wyoming uranium projects are in demand, page-5

Not to sure what Strathmores market cap for a comparison is.

But in relation to the properties mentioned now in a bidding war. I have found that combining the measured, indicated and inferred resources they have on them there, it totals something in the vicinity of 14.2ml lbs U3O8.

Now given Pens initial target of 15ml lbs from R and B alone, that in itself gives us a rough idea of the potential value of that intial in ground target once JORCed. Of course once permitting gets closer to being approved, then I could imagine PENs initial project would be worth alot more.

Something else may be worth mentioning here too and you may already be aware it but some may not be, but ironically this same company holding the properties in the Powder River Basin that have come under a bidding war also happens to have aquired 5,000,000 shares in PEN and has a royalty over part of its Barber project from another recent sale of one of its properties to PEN. Whether they are still holding the shares I don't know.

Don't know about you but I like it when I see royalties inclusive and making up a portion of the these sort of deals. Shows confidence that they think there is something there of worth, and not just happy to settle for cash or shares in this case.


NK