this is a good deal folks, page-81

Very astute Hedrox.

Uranium One aquired the Christensen Ranch and Irigaray Facilities and all associated uranium assets in the Powder River Basin for US$ 35 million in cash.

PEN could write a cheque without placing a dent in the $100M facility.

If they could aquire something like the above then it would be a game changer. The above is now officially a licensed facility as of 17/12/2010 after the NRC authorised the restart of the ISR facility.

The uranium industry general talk of consolidation of assets, and evidence of it occurring with the Armz deals and PEN aquiring certain Strathmore leases fits well with this thought. Additionally Strathmore has done a recent deal to divest the Juniper Ridge Wyoming uranium project to Crosshair Exploration.

Also in one of the recent BRR interviews Gus spoke of "aquisitions". Now was he meaning additional land as they have been doing or...???

Just dreaming out aloud since I read your thought prompting post. It isn't as silly as it seems.

One thing is certain though. This deal has de-risk PEN significantly.

1. They don't need to go cap in hand to any potential funding source. This places the ball in PEN's court when negotiating any potential offtake and/or finance arrangement of terms attractive to PEN. Gerard Holden is just getting warmed up.

2. They have the capacity now to cover the required surety bond for the mine (I have posted on this before, they don't have to put up cash, just a guarantee).

3. Lance rapid expansion and development is assurred.

4. We will now get to finally find out what the Karoo "elephant" project really has lying beneath the surface, as yet undetected apart from the historical data.

5. PEN can fund Lance into production (permit pending).

Permitting I now regard as a given, especially after the recent restart approval of Christensen Ranch and Irigaray.

Sorry...but the downside is what????