PEN Short Squeeze, page-73

Stockbroker's crystal ball gazing is just amazing bull shit.

So Shaw's say the spot price for uranium will rise to the nice round number of $150/lb in 2024. I agree the spot price will rise and probably well beyond Shaw's nice round (sounds good) number because of the current annual 40mill lb world shortage that cannot possibly be met for many years. So 150 is only a guess but a reasonable guess. Anyone got any better guesses?

The other guess is the share price of 12c will go to 34c being a 180% increase based on the company's intention to commence production in late 2024 - pigs may fly. The price is no longer 12c its now 10.5-11c. So what hat did Shaws use to pick 34c?

They don't mention the brilliant Pen management who contracted for years ahead to sell about 30% of their production at about $68 (a $38 discount to current spot).

They don't mention how smart PEN management was in selling about 670 million shares to "sophisticated" investors like State Street who went off and lent about 120 million shares to shorters to seriously depress the share price. So when the spot price spiked in December PEN SP was depressed because 10% of its shares were in the hands of shorters. Had the shares been offered to retail shareholders there would be no shorting. Blame Wayne.

PEN have a great little resource but management must go.