Two things here first is,.. Wayne said with more Uranium to be...

Two things here first is,.. Wayne said with more Uranium to be purchased which may need to raise more cash.
And mining will restart on the old mine units which are more depleted, new mine units will take 9 to 12 months so we wont know how Low pH recovery will perform for another 16 months on new ground.
SP does sound cheap when considering cash in hand, liquid assets and how much has been spent on the project, but the recovery rate on the new mine units will be the make or break for PEN,.. Do think recovery rate will be close to name plate and a re-rate on whatever the SP is at that time.

SP could move on a number of factors, new contracts, spot price or just a move in the sector... long shot T/O