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PEN - Peninsula Energy

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I agree that PEN looks oversold. The delays are only a temporary setback and PEN has plenty of cash to get into production. A speculative buy at best.

I also notice that the capital will be consolidated 20:1 soon. This will make the issued cap look respectable hiding the multiple shares issued over the past few years. On the positive side PEN is close to restarting its uranium production.
 
So even my 6.4c entry is nicely..hum..in red.
I pity long time holders
 
Consolidation underway.
Had no idea?
Was nearly thinking it was a buy.
Don't see any recent announcements about it and it appears to be about a 20:1 job going by the current SP.

Current ticker PENDD
Woof.

 



Holders to be diluted by equity raise. Basics are dilution by 1.46 times of all existing shares. Ouch!
Around 233 million new shares to attempt to raise $~70 million via 2 tranches at $0.30.
Definitely for the die hard optimists, however, there could be a trade in there somewhere....

 
Thanks @frugal.rock . I have put in bold the only sentiment of yours which I believe is totally untrue unless you can short the bu**er.

gg
 
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