Ripe to launch, page-38

Production, in terms of the first barrel of u308 is expected in 1st quarter 2025 (approx March I'd be guessing) - from a recent MD presentation. The plant however, with ISR up and running should be started in Q424 (Oct/Nov/Dec sometime). There is massive execution risk in getting to this stage - in terms of timeline and cost overruns (which we've just found out). At the surface it looks like a 'no-brainer', but there is certainly an element of risk here which I think the market is knowingly pricing in - flawless execution, and a rising spot price, and towards the end of the year I suspect buying now will payoff quite handsomely.....on the flipside, the opportunity cost of holding a concentrated PEN portfolio is also risky. Interesting times.