There's No Such Thing as a Sure Thing — but Uranium is Close, page-17

Basic supply and demand would mean that ANU coming in to buy up U308 together with what SPROT and other investment funds purchase actually removes brought U308 from the market. Less in market means higher demand to source U308 by the utilities, spot price rises more dramatically and higher.
Also, I think I saw an interview with a Kazaprom exec, saying that ANU will purchase most of their U308 from Kazaprom.

Since PEN is not currently in production and are currently updating their Feasibility Study, they can wait till the spot price rises if you are worried about your investment. The current producers and near term producers will pump the price up through their contracting with the utilities....