Some interesting info from the PEN quarterly regarding their...

Some interesting info from the PEN quarterly regarding their transition to low ph ISR production that's worth sharing:


"The Company believes that the transition to a low pH recovery system would not only positively transform the Company’s key asset in the United States during the currently challenging uranium market conditions but could also position the Company to rapidly grow production when uranium markets improve. All uranium operations globally that are in the 1st quartile of the cost curve are in ISR facilities that utilise a low pH lixiviant."

"The Company continues to engage with its existing and potential new customer base regarding possible new longterm uranium concentrate sale and purchase agreements targeting pricing mechanisms that would support increased production scenarios under the planned transition to low pH ISR mining at the Lance Projects."

"Detailed capital and operating cost forecasts for the project have been prepared and are now being refined along with the critical wellfield parameters as part of the low pH feasibility study underway, which assesses the economic and financial outcomes of the planned transition to low pH operations. This detailed work on cost forecasts and other estimates underpins the feasibility study which is now anticipated to be completed and announced toward the end of Q3 2018. A detailed financial model has been prepared and iterations are being run to incorporate refined operating and well field development cost estimates"



Assuming the feasibility study is a success, it shouldnt take long for PENs share price to re-rate back to $1, giving it a a very realistic 233m market cap. IMO