I agree Tenbigones,I like to look at the big picture as...

I agree Tenbigones,

I like to look at the big picture as well.

Also the link that ozewolf posted in world nuclear news highlighting Pen and Titan Uranium, will be a good base to use when comparing pfs results. Especially considering what Titan classes as a high quality project with good economics.

("The results of the PFS confirm our view that Sheep Mountain is a high quality project which exhibits robust economics," said Titan Uranium president and CEO Brian Reilly.)

Although Pen is ISR, Both projects are similar in size, minelife, production and opex, but Titans capex 118ml. Looking forward to seeing what Pens is.


--------------------------------------------
Titans Sheep Mountain feasible

Canada-based Titan Uranium also chose the phrase 'significant milestone' to describe the completion of a preliminary feasibility study (PFS) for its Sheep Mountain project in Fremont County. Titan Uranium plans to exploit the ore by conventional underground and open pit mining, followed by heap leach extraction of the uranium with a solvent extraction recovery plant producing up to 1.5 million pounds of U3O8 per year.

Sheep Mountain is another Wyoming project with a history of uranium mining. Uranium was produced from two shafts at Sheep Mountain in the 1970s and 1980s, although only a small portion of the mineralization was mined. An open pit at a third ore zone, known as the Congo Pit, was being prepared for development in the 1980s but never reached production. Titan Uranium now plans to develop the project with both the underground mines plus the Congo Pit.

Titan revised its mineral resource estimate for Sheep Mountain in early March, to 16 million pounds U3O8 at an average grade of 0.131%. The NI 43-101 compliant resource figures are for the Sheep 1 and 2 ore zones, plus the Congo Pit.

"The results of the PFS confirm our view that Sheep Mountain is a high quality project which exhibits robust economics," said Titan Uranium president and CEO Brian Reilly.


According to the PFS, the estimated capital cost for a 1.5 million pounds capacity mining operation with an initial mine life of 11 years would be $118 million, including allowances for contingency and risk. The estimated operating cost would be $28.67 per pound recovered uranium. Based on a long-term uranium price estimate of $60 per pound, the operation would have an estimated pre-tax payback period of 5 years.

Titan Uranium owns 100% of the project, having acquired Uranium One's interest in October 2009.
........................................

NK