long term chart, page-267

I don't think your a novice carolz. You, like many of us I could imagine, have a genuine interest in seeing Pen succeed through to production. As far as I'm concerned, unless there are any major hiccups, then theres nothing wrong with that plan.

Imo, by the time a junior explorer reach's this stage of progression, they would most likely have a J/V in place with another company, and more than likely have had to relinquish control of the project. So I'm thinking a junior explorer must have an extraordinary reason for going it alone. Like for instance, they know they are sitting on a world class project.

It will be interesting to see once the uranium price starts to lift what the share prices of some of Pens Peers in North America do. From what I gather in the research report on Pen, back in around Sep 09. ISR companies there traded on an average multiple of $13 per lb of inferred resource. Which would have valued Ross and Barbers 15ml lbs at $195m or 11cps. At that time Pen never had a Jorc out, but now they do.

So it will be interesting to see (when the uranium price starts to rise again) if these other ISR companies in North America claw back to those share price levels they were at, and what Pens share price does this time, given they now have a 15ml lb Jorc out.

Thats my 2 cents worth carolz.

NK