What I said indicated a couple of quarters, not months. Drilling is forecast at Karoo mid year. They've gotten through $5.5Million in the last 2 quarters and I think the next 2 will have a higher expenditure rate given 2 additional drill rigs being used and some of the consultant companies employed will finish stages of their work in February. I don't believe they'd get down to a couple of million dollars before sourcing more capital unless they have a real taste for excitement.
SO... back to my question which still stands. Where's the money going to be coming from ? Given the current gloom gathering around the DOW and a possible second dip to the GFC the answer to this question is likely to have greater affect on the share price than the next 100 drill holes.
Illiquid
PEN Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
