Jzm. Understandable no one responded to your query but based on production volumes and all-in costs presented in the last four quarterlies, production costs are closer to US$200/lb (every dollar spent to produce uranium, not the deceptive C1 or "cash cost"). Chang is being generous in my view, but it wouldn't be the first time he has got it wrong.
My recollection from PEN announcements is $41/lb production "cash cost" (see latest company presentation for confirmation) but this assumes Stage 1 nameplate production of 600 to 700 thousand pounds (btw which is it?). Obviously, PEN is nowhere near nameplate capacity and is unlikely to get there any time soon (insert own estimate of time period here). I posted a table of quarterly costs awhile ago but obviously it was given short shrift by the bulls. I will repost it again if you are interested.
PEN Price at posting:
78.5¢ Sentiment: Hold Disclosure: Not Held
