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Some points from today's AGM

Gus and his brother (from Hartley's) were in US recently, met a couple of US senators from Wyoming who are keen to see the project up and running.
Also met with institutions.

All I could gather about the trip to China was that he attended a conference, very upbeat about the Nuclear power situation in Asia.

Emphasized the quality of the personnel PEN has been able to acquire for the project, saying that the GFC worked in PEN's favour in this instance. People of this calibre would not have been available otherwise.

Same with the plant design, wouldn't have got a look in normally with LYNTEK, a world class company, they are actively seeking work now.

Permitting will be for a 3 million pound plant, good sense to do so now as the same amount of work is required. Did say there where other reasons as well without alluding to anything.

Gus mentioned that the historical data will be fully collated and computerised by the end of January. Very excited about the 3D imaging.

I asked about permitting timelines, replied PEN's method of submitting every three months is all plus and well received by NRC, if anything is found wanting it can be rectified in a timely manner. Better than submitting every 12 months and then having to rectify something done several months ago.

Have 13 projects at Lance with uranium mineralization, just concentrating on two at this time. Almost like a new mineral province.

Wants to keep Lance 100% if anyone wants in they can buy shares on market.

I did ask about the $50 million line of credit, I don't think it will be used. Handy to have though.

Also in the process of acquiring a property for COO Anthony Simpson, he has moved his family over there. Speaks very highly of the man and his qualifications, the right man for the job.

Gus also talked a little about the impermeable layers above and below the rollfronts, he actually got a little excited there.

I have a fair swag of PEN shares so I'm biased but I am also much happier now that I have seen the main man in action