isr or open pit, page-7

Dear Sircorp

Your research is a little wayward . . . well . . . alot!

Source - BGF Securities - Analyst Wawrick Grigor

Highly respected analyst with many years under his belt dealing with uranium companies, including PEN.

Toro Energy, only has a 30.57 million pound Jorc resource

Black Range, has (very shortly ) 100 million pound Jorc.

Grigors numbers for BLR Taylor project (only) are for $34 per pound cash cost.

Can you please show the maths you employed to make that very inaccurate statement.

Cheers


SwissB