very optimistic with pen - patience is the key, page-3

Excellent post Quantum - great intro and good article.

I'm hoping that the wait for the rebound will be well under 12 months.

In just over 3 months (early August), if all goes well, PEN will have just one remaining hurdle before mining start-up - the Source Materials Licence from NRC.

By early August we should have:

1. 2 of 3 permits for Lance in place (Permit to Mine added to the already issued DDW Permit),
2. Strategic Partner confirmed,
3. mine development funding (debt and equity) for Lance in place,
4. offtake agreements for 60-80% of Lance output, and
5. imminent commencement of mine construction.

We will also have a jorc resource on Karoo (which based on interim updates, is sure to meet or exceed expectations).

I'm not predicting SP, but with all those things in place, there should be a lot more interest in and positive sentiment in PEN.

It's a reasonably long wait (13 weeks) but will be rewarding. And ther's plenty of milestones along the way - not least the 3 due in the next 2 weeks.