PEN can buy uranium at a fixed price until end of 2022.
The buy contract they have is for around $30/lb I think.
So doesn’t matter even if spot price hits $100/lb, PEN is still paying $30/lb, and selling at over $50/lb until end of 2022
That is the reason why PEN accurately knows they will receive $8M - $10M in 2022.
What happens in 2023? Well we know low pH works at Lance. Field demonstrations end say mid 2022, so by 2023 I’d say we be up and running using low pH ISR (same method as Kaz, the lowest cost producer in the world)
SPOT PRICE, page-32
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Last
11.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $243.7M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.0¢ | 11.0¢ | $728.9K | 6.312M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2526990 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 9593066 | 49 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
11.5¢ |
Change
0.000 ( 2.13 %) |
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| Open | High | Low | Volume | ||
| 11.5¢ | 12.0¢ | 11.3¢ | 5643395 | ||
| Last updated 15.59pm 02/05/2024 ? | |||||
| PEN (ASX) Chart |