Interesting to note that the Abare article I just cited on my...

Interesting to note that the Abare article I just cited on my last post has now got ISR firmly in focus with a brief explanation of the process.

Pennies will eventually drop Bill that low cost ISR producers are going to be major beneficiaries as the uranium market plays out. Noting that Abare is very conservative and that although they to indicate an increase in the price of uranium, they also predict around 2012 that the price of uranium may moderate.

If PEN begin production in early 2012 as they are planning to, they are going to benefit significantly through being a low cost producer. They could negotiate higher prices on the long term market or take the spot price without detrimental effect.

Conventional miners won't have this luxury afforded PEN.

NKLEX, spot on! Gus is seemingly playing hard ball and is absolutely adamant they will go Lance alone. No hesitation in his response to me when I asked that question. It was a lightning quick response paraphrasing him he stated ...PEN won't JV Lance it will remain 100% PEN. The chap who joined us for lunch that day is actively involved in high level finance for major energy projects. He made it clear to me that projects like Lance will have no problem getting financed. A very conservative chap but clearly bullish on PEN. He never indicated one way or the other if he was looking at involvement with funding PEN, nor did I broach the subject. I don't think he was, as his focus seemed to be Oil&Gas and coal. But who knows...

What I do know is that PEN is serious about becoming a producer of uranium. They are definately not one of the multitudes of companies that have uranium on their books and do nothing or merely token exploration (rock chip samples etc) to seemingly indicate they may be in the uranium market.

PEN IS in the uranium market and is positively heading toward the goal of production early 2012. A real company, doing real things to develop into a highly profitable producer. A producer that will provide for the many patient holders a tidy return. I am getting more positive about this as each day goes by now. I am still yet to see a single article, announcement, global event or post here that would detract me from my thoughts on PEN.

I am also convinced beyond doubt that we have the right man at the helm. Gus is determined and focussed with the expertise required to make this work.