no brainer, page-26

Well I must say, there is definately alot I agree with in your post. If I could give you a half tick I would but I can't so I just give you a full one.

Certainly the $65ml/Year figure is probably a bit premature atm and yes its still got to happen, but hey, wtf. Hartleys are happy to put it out there, and they are a reputable firm as far as I'm concerned. So along with my own research then thats good enough for me. And it really does look like happening.

Admin costs, yes, I agree, we dont want to see it get too top heavy, especially when going gungho with the drilling and JORC now. But its very obvious that Ross and Barber is where most of the funds is getting spent on. This is their number one priority, get it operational asap and then the rest can be self funded.

Agree, they will be drilling for a couple more years in proving up a global JORC resource of over 100ml lbs. That I have no doubt. But I am guessing it will be like Ross and Barber. We will get progressive JORCs along the way in seperate areas around Lance, ultimately making up 100+

RR, well we will see what transpires there, there may be some nice upside to come (don't know), but make no mistake, PEN are very committed at becoming a uranium producer. I'm sure RR is low on the priority list, but if it does turn out that they have something substancial there then it will just be cream on the top.

Monday morning, I cant wait either. What great news it was for any uranium miner in the US to recieve. Whether it takes a while to sink in, matters not.

I was never keen on Obama, simply because of what I thought was his hidden anti-nuclear ideals. "Boy, did I read that wrong!! Now I'm for him. Shallow, I know, but if his energy policy is going to indirectly help PENs cause, then I'll happily cross the floor. The great thing is, both parties are pushing for it now, and 1+1=2. and PENs Lance project just happens to be sitting in the hungriest part of the uranium world thats just woken up!

Imo When Obama confirms it, then this news has got to put a halt to the current uranium price slide.




NK