Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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Join a very, very, very long queue @Telamelo , over many, many, many years.
The pied piper of Hamelin ain't got nothing on good ole PEN for dragging people in.
gg
Join a very, very, very long queue @Telamelo , over many, many, many years.PEN have about $12M cash balance and read somewhere possibly another $10M coming/on the horizon? (I'll have to re-check info. etc.) but am really liking the potential here imo
Just announced "Pre-development plans to ramp up Lance activities" in the US
DYOR
11/08/2020 PEN has completed the laboratory phase of optimisation work at its Lance Uranium Project in the USA with a second low-PH field demonstration underway to confirm laboratory results at a near to commercial scale.Join a very, very, very long queue @Telamelo , over many, many, many years.
The pied piper of Hamelin ain't got nothing on good ole PEN for dragging people in.
gg
Join a very, very, very long queue @Telamelo , over many, many, many years.
The pied piper of Hamelin ain't got nothing on good ole PEN for dragging people in.
gg
Seen it all before.11/08/2020 PEN has completed the laboratory phase of optimisation work at its Lance Uranium Project in the USA with a second low-PH field demonstration underway to confirm laboratory results at a near to commercial scale.
This work continues pre-development activities at the Wyoming project, which is transitioning to a low pH ISR process.
Over the next 12 to 18 months, Peninsula will focus on key site-specific technical process development and optimisation activities to fully prepare Lance as the only commercial low pH InSitu (ISR) operation in the US.
The company is well funded to advance Lance with a cash holding of approximately US$12 million at June 30, 2020, no term debt and forecast net cash margins of between US$6 million and US$8 million for 2021 from its uranium sales contract book.
Managing director and CEO Wayne Heili said: “Developments in the uranium market have been highlighted by limited global production and restraint of mid to long term purchasing activities by end-users, which indicates a strong likelihood of increasing price and purchasing activity over the coming months and years.
“Peninsula will use its strong balance sheet to sensibly progress Lance with the advantage of knowing that if markets warrant, we could make an investment decision in parallel to the optimisation workstreams and be in commercial production within a six-month timeframe.
“The US domestic uranium industry needs to focus on innovative means to economically produce uranium for the domestic and global nuclear fuel markets.
“We believe that the test programs we have designed and will conduct over the coming 12 to 18 months will generate long term value and benefits for our Project and for our shareholders.”
To further investigate the use of low pH lixiviates (ISR leach solutions), Strata collected fresh core samples from an area that had not been impacted by alkaline ISR production operations (now the MU1A area).
Side by side columns were prepared to explore differences in ‘soft’ (slow) and ‘hard’ (rapid) start-up acidification procedures and the subsequent acid requirements.
Care was taken to ensure core was not unnecessarily exposed to the atmosphere during preparation of the test columns.
While the 'hard' acidification procedure, the standard process in all prior testing, delivered better results, neither column generated results that were comparable to previous column tests.
A hypothesis was developed that the introduction of an oxidant may be necessary to effect rapid uranium dissolution when the mineral is not previously oxidised by alkaline mining.
There was an immediate positive response as the uranium grade quadrupled.
License amendment applications are being prepared for the use of oxidants with the low-pH ISR process and for the use of the ponds for solids management in future operations.
Current licences and permits for Lance allow use of oxidants and the ponds during the limited scale field demonstration without amendments.
Peninsula Energy can also begin low-pH operations without these process enhancements, which were not described in the original low-pH amendment approvals.
Starting in previously mined areas where oxidant is not necessary will allow time for the completion of the desired licence amendments prior to commencing production activities in new mining units.
The company expects completion of these identified licence amendment activities by mid to late 2021.
---Above excerpt article taken from Proactive Investors
Interestingly, the 1 yr PEN candlestick chart shows a big 'open gap' between .088c and .108c that sooner or later may/should get filled! imo
OK @TelameloInterestingly, the 1 yr PEN candlestick chart shows a big 'open gap' between .088c and .108c that sooner or later may/should get filled! imo
It's flagship Lance uranium project in Wyoming, has the largest defined US in-situ resource of 53.6mlb and is the only project permitted to use low pH in-situ recovery.
With processing and well field production facilities already in place, Peninsula can bring the project back into production within six months of a restart decision.
The company is already contracted to deliver 450,000 pounds of U3O8 per year in 2021 to 2022 and has five sales agreements in place with major US and European utilities for up to 5.5 million pounds U308 at a weighted average sales price of between US$51 and US$53 per pound U308 through to 2030.
Uranium prices have climbed sharply this year, up more than 33 per cent since January to the current price of $US32.95 a pound.
I love "unloved rock bottom stocks" as once the tide begins to turn (noting recent PEN announcements since July '20) can potentially deliver exponential/parabolic returns going forward. Very minimal downside risk but with tremendous upside potential imoOK @Telamelo
I'll go along with you on PEN as long as you do not mention the following words in any of your posts on PEN in ASF : processing, production, project, restart, decision, contracted, sales, agreements, million (or any multiple of), pounds, U308, any year between 2000 and 2100, Wyoming, Lance and Uranium.
PEN is a flea ridden dawg and I have had migraines skipping past announcements and comment containing the drivel words published in the previous paragraph in the past. So many forests and hard drives have been destroyed on fundamental analysis of PEN. Beware if you should follow in the path of loons and paupers.
Let us follow the trend and see what happens.
gg
It will be a fun ride.I love "unloved rock bottom stocks" as once the tide begins to turn (noting recent PEN announcements since July '20) can potentially deliver exponential/parabolic returns going forward. Very minimal downside risk but with tremendous upside potential imo
OK @Telamelo
I'll go along with you on PEN as long as you do not mention the following words in any of your posts on PEN in ASF : processing, production, project, restart, decision, contracted, sales, agreements, million (or any multiple of), pounds, U308, any year between 2000 and 2100, Wyoming, Lance and Uranium.
PEN is a flea ridden dawg and I have had migraines skipping past announcements and comment containing the drivel words published in the previous paragraph in the past. So many forests and hard drives have been destroyed on fundamental analysis of PEN. Beware if you should follow in the path of loons and paupers.
gg
So you are now set in PEN. Well done. Valour does sometimes reward those who catch a tide.A little patience is a virtue with PEN .. rock solid support today @ .068/.069c levels in closing @ .069 still cheap as chips! dyor
PEN closed @ .071ceyeing juicy "open gap" on chart between .09 and .11c to fill (sooner or later)
MorningstarTM Quantitative
11 Aug 2020
More details about Morning Star Quantitative
Undervalued
Fair value $0.12c
3 out of 5 star(s) rating
Consensus
11 Aug 2020
More details about Morning Star Consensus
Strong Buy
1 Strong Buy
Thanks for posting PEN chart (appreciate it). Perhaps soaking/accumulation almost finished @ .071/.072c ? so then "coil can spring into action"!GG your excitement re PEN is underwhelming.
Dare I mention that there's a nice looking BO setup forming on the chart.
View attachment 107542
Thanks very much GG .. Excellent work!@Telamelo
I've got a Fibonacci retracement chart for you on recent PEN action.
Selling a few million after your gap closes would enable the rest of your buy to "run free".
View attachment 107717 All the best for you in PEN.
gg
As well as charting it may be worthwhile seeing the average time between ASX announcements and also issuance and exercise of executive options going back over the years.PEN on the move.. hit .075c +4.17% on very good volume!
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