The insurance policy of buying physical uranium at a low point....

The insurance policy of buying physical uranium at a low point. Spending (committing) capital to do it, has shown its value even though PEN was criticised for raising capital with it in inventory. I think it demonstrates well:

1. the disconnect between the commodity price and timing of getting started.
2. the importance of not being anywhere near capilal starved on startup.

the tick they got for getting that decision right is largely offset by the IX disaster but in the end they are wounded not dead and the game goes on.

All IMVHO