Ann: Additional Disclosure for securities issued , page-6

re: Ann: Additional Disclosure for securities... If we have to try and derive some insights, then you would have to think the market for raising funds for Uranium mines is that tough that PEN could not secure a deal favourable enough. That's what Gus is charged with doing - representing PEN's (and our) best interests. It's a buyers market right now until the Japanese induced surpluses clear the decks, and if you were trying to buy right now wouldn't you try and get the supplier over the barrel?

It would have been a lot more serious in my view had Gus committed PEN to a crap deal that keeps biting for the next 5-7yrs because the circumstances at the time were not in PEN's favour.

Saved at the bell by the securitisation of the existing sales contract.

My watch says 5 months to SML issue, and I'd be surprised if we didn't know how the funding was going to happen before then. I sitting tight, despite the shenanigans on market right now - clear to see yet again how the players are trying to really give this a push down just before dawn.