Remember Target ... $12.36, page-114

Dahook..I don't deny your view...but I've never taken best outcome scenario by any firm....most people in the investment business know there are many unknowns that we just don't know about and "until the fat lady sings" it's buying at below book value that's the best you can do in a scenario that looks to have a future positive outcome.

Investing money is a journey of many destinations and it's now that we are finally out of the sky high area of price... and operating at a price which is below book value .We are not paying over the odds...the rest is just a wait and see from Pen.

Yes I believe that the hard work in setting up the technology is mostly completed and the quality of management will meet expectations .We are in the market as Ben Graham said of price of Pen still being a voting machine where price is based much on emotion ...when the years pass with successful production we will become a weighing machine where successful production and profit determine price.

The future Demand growth and present supply of uranium suggest that we are entering a good space for Pen to be a successful uranium producer with improving uranium prices in the years ahead. .Time will tell.

Nobody knows 100% about any investment but it's either probable or improbable ....I believe that success with Pen is probable ...as to later this year or next year... well let's wait and see.It's enough for me to see that" the probability for success is improving." Remember I'm NOT a trader and time is not a critical factor if I believe we are on a success path.
All the best to All.