wyoming uranium projects are in demand, page-11

NKLEX good find. It's great to see interest from multiple parties on this part of the world and it definitely bodes well for PEN.

One thing that would be interesting to understand from this announcement is why and to what extent the new offer is superior to the one from Bayswater.

Bayswater's offer was for $30m in cash. The new offer is a mix of USD17.5m cash and 2.5m in shares of the bidding company - but we don't who that company is. ON top of that is a royalty valued at $10m. So on the surface the new offer matches the previous one for a total value of $30m, but only slightly more than half is cash. Well they say cash is king but not in this case it seems. But why?

The new offer provides Strathmore with upside, via the ownership of shares in the buying company as well as the royalty, although the buying company would opt to purchase the royalty if its value from the U production exceeds the value of the purchase price of $10m. That leaves upside from the share ownership. The value of that would depend on the unknown company. I would think the bidder is a relatively small company as that would provide substantial upside if they strike it "rich" from mining this land. Otherwise why knock back $30m in cash?

Am I reading this right? Any comments?