reality, page-6

Garry no one's suggesting it should be worth 40cps now, it's a projection on what one of their projects should be worth come production time.

The reason this stock has such a loyal band of followers is that of all the speccy U plays PEN has one of the best risk profiles in terms of it's chance of getting to production for a minimal cost. Yes it's still 2 years away but it's very likely to happen and awful lot of the work that most U players have to do has already been done.

Remember this same U field was actually brought to pilot production 30 years ago. It's all be done already, the only reason it stopped then was because of 3 mile island and the subsequent bottom falling out of the U market. So this is nothing like exploring a greenfields site where you're not really sure what you've got until you've risked a lot of capital. We know it's there, it doesn't meet JORC standards yet but we know it will, with a very easy drill program since we already know where to drill and what we'll find in each hole...

In the meantime the higher risk higher reward bet is being played out in South Africa which offers an unknown upside.

I'm pretty happy with a minimal risk profile like that and likely 10 bagger over the next 2-3 years. Especially when the upside potential from Karoo is a lot more than that.