You are not alone illiquid in your concerns about the issue of...

You are not alone illiquid in your concerns about the issue of Pen getting gobbled up whilst in its early stage of development by a bigger player. As far as I am concerned, this is one of the biggest risks Pen faces atm. Especially having completed a large percentage of the hard yards on the project.

1133, If you haven't already found it. I'm Happy to try an answer it.
Pretty sure the company in Q. you are referring to is Uranerz.

Uranerz Implements Shareholder Rights Plan; Sets Rights Exercise Price at US$8.75

snippett
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"The Shareholder Rights Plan safeguards our shareholders' interests by discouraging undervalued or unfair takeovers of the Company" said Dennis Higgs, Executive Chairman of the Board of Directors. "We want to ensure that the future benefits of our ongoing initiatives are not denied to our shareholders by an opportunistic, undervalued acquisition of the Company. This Plan is designed to protect against such acquisitions so that our shareholders can share in the full benefit of Uranerz's long-term potential".
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But it doesn't stop there. There is obviously a growing concern in the junior uranium sector that the shareprices of their companies are very vulnerable atm. So much so that even Strathmore Minerals have implemented a share buy back program.

Strathmore Announces Share Buy-Back Program

snippett
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STRATHMORE MINERALS CORP. ("Strathmore" or "the Company") announces its Board of Directors has authorized the purchase of up to 4,390,000 of its common shares over the next twelve months by means of a share buy-back program through the facilities of the TSX Venture Exchange ("the Exchange"). The Board is of the opinion that the Company's shares are undervalued in the market place.

Strathmore has filed a notice of intention to undertake a normal course issuer bid with the Exchange for the purchase of up to 5% (4,390,000 common shares) of the Company's issued share capital over a twelve month period commencing in not less than five days. All purchases under the buy-back program will be in accordance with the rules of the Exchange. Common shares purchased under the program will be cancelled. Strathmore has engaged Canaccord Genuity Corp. to undertake the share buy-back program on the Exchange.
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Is this something Pen should be seriously looking at, considering the uranium market is heating up again!

Obviously the path that Strathmore has taken requires capital, but still maybe it needs to be looked at now, because waiting till in production for the capital may be too late. Who Knows!


NK