Well done, MAGADAN, Excellent post. And dare I say they will...

Well done, MAGADAN, Excellent post. And dare I say they will probably get it all too.

I must say, I would much prefer to see Pen put Karoo on hold,(as good as it is) Imo, they need to be totally focussed now on conserving capital for Ross and Barber alone. Once up and running and producing, they can then use their own profits from them, to bring Karoo back into focus.

The potential at Karoo is outstanding, 90-150m lbs but it can wait! Ross and Barber alone is virtually a ten year project in itself!


As you have mentioned about the potential J/V at some of the Lance projects, Excellent thinking!!!

I've got a feeling though that Pen are going to try an get Ross and Barber up and running themselves, keeping 100% control in Pens hands. Big ask, I know! But what a thing for a uranium junior to pull off.

The inevitable dilution mentioned by Dhuy is just a natural progression for junior companies not willing to sell out at the first offer they get. Which I'm strongly guessing they have had a number of offers by now. But obviously none have been acceptable to Pen. I think this large raising clearly shows that management have their longterm shareholders interests at the forefront.

Cheers NK