value comparison, page-3

I picked this up on the BMN announcement re the U price trend & their take on where the U price needs
to be viable for new ventures to come on line.

Can see why the utility took up PDN's reserve as supply is going to struggle to meet demand & at current pricing
new mines will be put on the back burner (as per Olympic Dam/BHP).

There will be a large volume of still water to get through before new ventures come on stream to fill the supply gap.

PEN's costing are below these zone of minimum incentive prices for new development.

M