"tutes, there's a possibility PEN may be one of the FNArena noted contracts coming through.
If that's the case we'll get our finance..."
Zubana - as already pointed out, those 'FNArena noted contracts' are mid-term contracts and the current mid-term price is $31/lb. Given that the price only covers the cash cost of producing yellowcake, how can it provide the collateral to underpin a finance deal. Don't we, by definition, require long-term contracts to provide sufficient margin for collateral?
News: Peninsula - Operations Update, page-24
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