There is no political risk associated with PEN in the Wyoming...

There is no political risk associated with PEN in the Wyoming location especially. As for Karoo PEN already is in bed with the right organisation in a U friendly location, so that can be discounted to a certain extent.

Look at where FTE has uranium leases, I would regard that as being quite high up on the risk scale and definately far higher than PEN.

FTE has Cu leases near to ABY, I think you will find that is the attractiveness with FTE. Having said that though FTE has a tie up with Areva and that could change things. The biggest though IMO is FTE has approx 446M shares.

As far as uranium goes, PEN will eat FTE and is already far more advanced due to the collation and confirmation of a huge amount of historical drilling.

Not sure how FTE plan to get to the stage of PEN when they only have 1.3M cash left. They won't have 446M shares for long IMO.

IMO though I think FTE has taken of recently mainly due to Cu, as a few others have. The nearology to ABY could also be a factor, in fact I am sure it is.

As far as U goes, PEN wins hands down by a country mile on both the score of risk and advancement. Just my highly biased, subjective and yet attempted objective view ;)