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PEN - Peninsula Energy

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PEN is my dark horse and third tip of CY 24.
Uranium price doubled.
PEN has kept the market for waiting long time. It used to be one of the favourites for many. With 2030 target, uranium would be a big step forward and being outside Australia with a proven technology PEN would go up like PDN
Read the announcements - and in between the lines.



 
PEN is one of my tips for CY and already given me Pain by going up the price by 25% today just when I sold it out after holding some time thinking it was enough. Look at the volume almost 4 times than Friday's vol.
All uranium stocks have gone up in anticipation of just price of Uranium or /and war ?
If the trend of price continues, the SPP holders will be at the top of moon after buying at 10 cents

 
PEN is about to have another 666,666,667 shares quoted on the ASX from their recent raising of $50m. That will see them at about 1.9B shares.
It was at what I thought was a ridiculously low price of 7.5c and even has a free option for every 2 shares.

A big year for PEN, if they can't make it work this year I doubt they ever will.

I've sold out of these for now but have applied for the SSP.

I've listened to a lot of Uranium Co MD's the last few weeks, Wayne doesn't interview too well.

Its worth listening to 1m12s when Wayne is told there is a lot of chat saying the best PEN can do is get taken over.

Don't listen past that though, I did and my ears bled.

 
Thanks, mate @houtman . So, without listening to the video, but reading from your summation of the video, it appears Wayne is crying for a cuddle and to be taken into the lap of a parent . That is a bit of a worry to lose biological parents and look for foster ones to look after the baby.
 
I've been if not following PEN for over 20 years, at least aware of its strangled yapping. I decided this time to ignore it, but for a number of reasons I could not.

PEN is a dog, run by its board and drillers and diggers and geologists, lawyers and accountants and the mining press and blue sky spruikers and mugs like me who go in and out hoping for a quick profit, for their own benefit. It does drag you in. And always dumps you.

A couple of weeks ago I thought, PEN is finally getting up and was tempted to throw five or ten small ones at this mongrel. This is the thing about this dog, it pulls you in. So, I did a few burnouts on Flinders St. East at party time in the Bentley, was duly reported to the police by one of the monsters who controls the nightclub scene and before you know it I'm in the back of a paddy wagon being offered some "top powder" by a South American gentleman and on my way out to The Creek, Townsville Corrections Centre.

I find a stretch in gaol for warrants outstanding the best antidote to throwing money away. While on remand I got my toes done by the visiting podiatrist, a top up on my scripts from the doctor and pharmacist free gratis, was directed to a good lawyer who could sort out some problems I am having with the second Mrs Gumnut and managed to lose a few kilos in the gym. They wouldn't let me at a computer to buy PEN. I was happy and ahead $5000 or $10,000.

So I didn't't end up buying PEN. And I am glad. But hey, maybe I should have a look at this yapper again, there are so many more shares on issue I might get some cheap ...



gg
 
Great write up GG.
Thanks for your initial exit but a may be later entry. I liked it very much like an astrologer report
 
PEN and all other uranium U208 lovers - wear a seat belt.
Now, Pakistan and Iran have started hitting each other. This will unfortunately not limited to them and ironically both are proclaimed Muslim states (just like us in Australia a Christian state). The support and counter support, if not stopped , would spread like a virus into India, China, Afghanistan and Bangladesh at a minimum. How many nuclear states are on the above? What does that mean to nuclear demand even if there is no WW 3?
People holding gold also watch and wear seat belts.
Insult to injury, Uncle Sam will be busy to return Trump with no hope from Democrats and Biden.
That will give a free ride for Russia to destroy Ukraine mercilessly.
Time horizon - 6 to 12 months, if not earlier.
 
@debtfree

What can be read into the current leader and Monday's leader of the yearly comp both holding PEN?
Nothing really.

I was going to have a long rant about PEN but heading off over oceans tomorrow so it will have to wait.

Timeline is important for PEN, they have fwd contract delivery requirements that have been pushed out.
If they fall behind with their production schedule these could become an issue.
Keep an eye on qtly updates.
 
@debtfree PEN yearly comp pick (March)

Pretty deep retracement given how good the chart started to look in early Feb.

10.5 looks like it might be the bottom of a forming base, but that is said with no real confidence just yet.

 
Ann today. New sales agreement expected to add over $88M to the coffers. Slow process but eventually it should all come together.

 
@debtfree

Sorry for the delay.
Is it coincidence that the 2 laggards both own PEN?

Looking at my 2023 picks, I held them all until at least mid year.

PEN - I sold 11 days into the comp!

PEN has an EV of about $206m.

Current NPV(8) for their Lance project is $116m (from pg 22 of their March presentation).

They are only funded to production, gonna need working capital.

Production "on track for late Q4 2024" Lets hope so.
 
Yearly comp pick thanks @debtfree

Snapshot



Been a healthy uptick in the SP last couple of weeks. Looks to be trading in a stable RANGE at the moment.

 
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