svengali, If you go through the page 2....following is mentioned
"In conjunction with this work Peninsula is conducting an owners review of the major cost items and optimising the
wellfield design. This work is near completion and Peninsula expects to release the results shortly.
"
How I view this Qrtly activities report is
1. Drilling is happening (gives some comfort)
2. They have ~23M cash to burn. Not sure about the burn rate.
3. Still see words like "shortly" (hate to see the word used by PEN)
pen - qrtly ann, page-3
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