New amendment on EDGAR, page-2

Very quick squiz, looks like the major update is the latest funding agreement.

However, I didn't notice this last time and I don't think this has been released to asx (it should). Re contract we are currently delivering under:

"of $4.9 million (50,000 pounds U3O8 at a price of US$69 per pound)."

Spot price say what?

4th header house coming on line in June.

"Expect to report significantly more U recovered in the June quarter"

However, the following is something I was unaware of and isn't made clear at all when reported. Of the "contracted" revenue, not all of it is "binding". There is a minimum bidding amount but then the rest is at the option of the purchaser. Thus, if the purchaser sees cheaper opportunities to acquire U than what is in the contract they can go to an alternate source or renegotiate the price with PEN.

We are more exposed to the spot that I thought...