yellowcake hunters chase a mirage, page-4

Thanks for the article leebe, it was much appreciated.

EE my friend...

"it's all about cost of production (ISR vs traditional mining) and size. Two big ticks for PEN"

That is definately my standpoint and has been for a long time. Where the U price is going, as can been seen by the article, is anyones guess. One thing is for certain is if the U price remains at current levels it will take low cost operations (low Opex) in locations with excellent infrastructure in place to make good profits, let alone be viable.

Hard rock miners as was correctly stated will suffer at low grades, in addition their margins would be squeezed at low U prices. ISR will be a stand out performer in this regard, as will PEN IMO.

Reading through the report last night I wish to point out something of personal interest to me, permitting and the possibility of early tolling. I have long put up the view that PEN could process early. I did so based on information I received from the EPA in Wyoming in 2008 and the fact that I saw tolling was being done with ISR in Wyoming. I thought "why not PEN".

The very same permitting information I stated openly here quite a few times and I passed on to PEN last year, in a post I was recently moderated for.

I have stated many times I believe tolling is an option, and the reasons why. Motty's hard won information supported my view. Also I put forward my personal opinion that early permitting could be achieved. I was moderated for staing just that.

Since then the permitting process with the NRC has changed to streamline the process. My information was all from the EPA and not the NRC.

I quote from the Hartleys report:
"Due to the nature of the permitting, it is also possible that PEN will receive the permission required to extract uranium before it receives permitting for processing of the ore (or before its processing plant is constructed). Under this scenario, we believe that third party processing is possible as the uranium rich resin from the extraction process can be transported to nearby facilities, which may have spare capacity."

I now openly and respectfully request that my last moderated post be re-instated. It was my view but based on factual information and long standing research I have put up here for all to read.

The TOU was unfounded and the post moderated without any consideration to any of the above.



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