agm.....another view, page-6

Hi Sven - good to be able to read your views/take on the AGM. A question for you, or anyone else for that matter who has the required business knowledge to be able to answer my following query.

You mentioned that, at one point in time earlier this year, we (PEN) attempted to take over a Uranium Broking Company that was showing an annual profit of $160 million. By 'taking over' the company, would I be right to think you are suggesting that we were going to buy the company, or at least attempt to obtain/purchase a majority share of said company?

If we were, given you have told us that the company in question was showing an annual profit of 160 million dollars, how much money would likely need to be offered for a company with that sort of annual profit to actually sell?

My first thought, without knowing how these things work I hasten to add, was that a company making that sort of profit wouldn't even consider selling for anything under many multiples of their annual profit. As such, did Gus say how we were going to be able to afford such a high-price purchase? If he didn't, do you have a personal educated guess as to how much money would have been required for the current owners to sell out?

Regards
RM