pen targeting u3o8 production 2012, page-26

That is my understanding of the BLR anouncements pidg.

I didn't go into detail of my overview and I knew doing what I did would cause a little conjecture. I also purposely left out the coal potential of BLR as I did Raki Raki with PEN.

One aspect is undeniable in that PEN has far more uranium resources than BLR in total and will be a lower cost to produce in the USA operations. As it is that BLR currently have Jorc and PEN is yet to do so.

Once Jorc is achieved, look forward to a re-rating of PEN. It won't be in November this year but it will be early 2010. PEN won't be anywhere near 3c by then.

I still hold Lance will be over 100M/lbs of U308 and Karoo is a dark horse and could well end up over the projected 150M/lbs.

I also hold they will let go of Raki Raki in exchange for cash.

But that's me...a (calculated) dreamer :)