The irony of all this is that PEN have the goods and technical ability with the quality line up of employees geologists and management including non executive directors.. (ie Warrick Grigor -an authority in the U industry)to take this company to become one of the more successful Uranium players in the industry.
What helps PEN,s case is the fact that the Wyoming district is in the top 2 largest uranium producing states in the US in which the political powers are pro-nucleur as has been recently highlighted by the new administration.
I recall how PDN got started in Namibia and how the management decided to walk away from their own backyard and against the grain become a VERY successful company in its own right....this in itself showed the rest of the market what could be done if a dynamic company could put their minds to the task ....there are only a few opportunities in life and i personally believe PEN will deliver( my own research and opinion) Ive chatted with Warrick Grigor a few times and his tenacity and dedication to his field of expertise is impressive to say the least
So what have PEN done ?? 1)well they purchased assets off PACMAG if some of you have forgotten..(this was around the time that PEN was trading in the 10c range) they banked on the future of nucleur power.... 2)they established/stragetically aligned themselves in one of the largest uranium producing states in the US of A 3) they made the committment to the market to become a producer by 1Q 2012 which appears to be very good timing, especially considering the state of the current global market so their timing could be superlative. 4) the commence drilling for ROss and Barber very soon which i expect progress on commencement dates/ drill rig avaliability(which i dont think will be a problem in this climate) in the coming weeks. 5) They now have the cash to take them to BFS following drilling and confirming to JORC approved status. 6) They have a potentially very large low cost resource of 56-70 lb u308.Then there is South Africa to get them to a total production of 3 million l/b per annum 7) They have a pack of loyal shareholders ...lol 8) They have fantastic grades with multiple stacked roll front resource coupled with one of the top two LOWEST COST ISR uranium projects
Reminds me a bit of how PDN became successful as its all about management and their ability to unleash wealth!!!
PEN Price at posting:
3.1¢ Sentiment: LT Buy Disclosure: Held
