green, page-3

The US government a not helping the uranium price, as they still plan to go ahead with the sale of a significant amount by the DOE. Still, as I mentioned once before, the recent mishap at Olympic Dam may well counter it. Imo though, thats whats keeping the uranium price from moving northward atm.

One scenario: They put it on the market, uranium price stays at these low levels for some months. More new uranium mines are put on hold or even mothballed due to high start up costs and lengthy delays due to conventional mining processes. Competition just keeps getting thinner for Pen.

Either way, Pen seems to have an added advantage.

I'm certainly not too concerned about the low uranium price. Once they are actually producing then yes thats different, higher the better obviously. But untill then it could all play out very well for any low cost, short time frame, uranium miner.

NK