Ann: Broker Research Report , page-8

Maybe Pala will want it's pie & eat it too.

Getting all permits, finance etc & they already hold 20% (at an estimate of 4 to 5c)

Good place to have a man on the board to keep a finger on the pulse (just before pulling the trigger ;).

At least your not waiting on ASX announcements to know the true position ;)

All performance shares will vest irrespective of takeover price...Hmmm...

Pala, the current white knight may become the white
..........err......dragon & Gus & the boys rewarded for their loyalty as they (pala & Gus et al are the poison pill for an outside run at PEN if a hostile takeover is attempted.

There is no doubt ther are rulers measuring up PEN, in this current opportunistic climate.

De risk it some more & they will come.

Right product, right time.

Lead time to start from scratch is onerous, as we long termers can all attest to.

(FWIW - I would take 15c in a heat beat on move on whilst I still have grey hair on my head)..

Which would be a pity as based on my spreadsheets with Lance & KAroo on line & a rising U price that would be great buying for whoever swallows PEN.

Once again moved too soon to buy..Hopefully we are bottoming out.

Just sitting & watching now ;(


M