wyoming now the 2nd best jurisdiction to mine, page-20

With a current forecast price of US$70

If this actually occurs when PEN reaches production then PEN will be re-rated significantly.

Based on the study this will leave PEN US48 p/lb after ALL costs. I am not just talking Opex, I am talking Capex, royalties, tax and forecast finance costs.

At 1.5Mlbs per/ann for Ross and Barber alone this equates to around US78,000,000 net being approx 7.8c per share at EPS of 1:1.

Now look at PEN with the potential of Karoo and expansion of Lance. Potential of well over 220M/lbs.

Re-rating imminent...IMHO of course ;)