PEN 10.0% 11.0¢ peninsula energy limited

uranium popular?, page-27

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    MMMM Mate we dont want to see $40 or under and definitely not $10. We would not get the money (either debt or equity) at $40. With a cap cost of $59 million, an estimated 2.3/2.4 billion shares on issue by then and a U price of $40 it would not be worth proceeding. At $10 PEN would definitely run out of ink.
 
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