indaba conference - february, page-4

With Gus presenting to SI in HK last week and other such roadshows occurring at present, management are doing their bit to introduce new investors.

The HK SI's is a brilliant opportunity. I have recently been meeting with delegations from China who are coming to Sydney with capital to invest the size of which I have never seen in 20 years of working in investment markets....very very exciting.

The appetite for our assets is hard to imagine...and for them today looking at the current SP of PEN, they feel like they are getting a bargain, there is no doubt about that.

Personally I was waiting for the last 4 months for a sign that PEN's fall had ceased. With Gus and crew coming out with their buying over the last week, with the resuming marketing machine interviews on BRR and various write ups in different press...not to mention the confirmed turn in the direction of the SP...it is a huge buy signal for me.

Sadly my 400,000 OB's are still sitting on the buy side having only had 100,000 of that order complete...but apart from that I have been a big buyer over the last week or so.

Todays prices will look very cheap in 12 months...sentiment is such a driver and it is turning in sharemarkets in general, the U market and most importantly towards PEN.

Kiril.

I hold