A very well thought out prognostication JJ and you could very well be on the money, something we never considered at the time.
You will be happy to know too that I have been lead to believe by management a number of times now that the spot price is irrelevant when it comes to production. PEN are planning to sell their uranium on or near enough to the long term contract price. So that may change your figures a bit.
Obviously the spot is still relevant for overall market sentiment, but thats pretty well all it is for PEN.
NK
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