Sino are still in a JV with PNN. They are still committed to another $5mil to PNN for exploration activites. Not only that, PNN are sitting on $4mil themselves. They are cashed up with ony 78 million shares on the market. Impressive. A lot of people are obsessed with stocks that hype up their uranium portfolio even though they have some 2 billion shares on the market and are going to be missing out on the runaway prices in other resources.
And yes their latest presentation indicated that they will be looking at doing another feasability study for Crocker Well early next year. As long as the pruce of uranium sits between $60-90 and the US dollar improves it should definately go ahead. Wouldn't be surprise to see this happen next year.
I also wonder what resource plays they are looking at in South America. It will be an exciting 2011. Now is the time to accumulate a big position while almost everyone is completely dismissing PNN. It's hard to buy PNN without increasing the price as it is. Not enough sellers. Imagine what it will be like next year.
PNN Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
