powder river basin gets a big write upfor u3o8, page-5

Thats right, the good news is they don't see it as a long term threat.

"Despite the short-term consequences, if the government releases the uranium, a long-term Wyoming uranium industry looks promising, according to industry analysts."

I also liked this bit about ISR still being profitable with these low uranium prices.

"Uranium prices have hovered at about $46 a pound in 2009, which is still profitable enough for many of the world’s biggest uranium mining companies to be initiating in-situ uranium mines in Campbell County and exploring the Powder River Basin for more uranium deposits."

Can you imagine how attractive these in situ mines are going to look if the uranium price stays at these levels for a long time. There seems no doubt about it, along with being in the right sector at the right time, Pen also happens to be targeting the right method for processing.

Weak uranium price!!!Conventional, Underground or In-situ, Hmmmmm


NK