Ann: Change in substantial holding, page-22

Of note Col is the RFC stock is held DIRECTLY by RCF, i.e. no securities lending agreement or nominee account.

I am certain RFC will, if not already put a stop to the BS trading that has gone on, as they won't tolerate that at all. They are in this to make money, not to have their now substantial holding pissed around with.

Will not surprise me one bit to see the UBS AG agreement ending, along with it the end of the constant short selling.

I am also not buying most of the negativity posted. I foresee new contracts being signed in the short term and PEN heading into profitable production. They themselves indicating cashflow positive by YR2 production, this isn't Gus "spin", this is as analysed by professionals that have now dug very deep into their own pockets.

This is no longer about Gus and his BRR "spin", PEN now is controlled by big players that want to see a return on investment. It may be by T/O or otherwise, however I am certain any T/O won't be at 2c it will be far higher if at all.

I do foresee consolidation now though and most likely before the end of 2015. This is a major shakeout IMO, to take the last of the loose retail holders. The PEN threads will be rife with negativity and new posters to help this along IMO.

I saw all of the same negativity with EXT, too many shares...consolidation...dog stock etc etc, two years later it was over $10. PEN doesn't have a resource (yet) as massive as Husab turned out to be, however it will be one of the few ASX companies that made it to production WITHOUT DEBT in a market that will have increased demand in the not too distant future.

However I have decided to go all the way and take what pans out, as I feel certain it will be a profitable decision. This is definitely going to be a testing time for all, as with Gavin I am now taking a longer term view.

Don't let this shake out faze you, as that is all it is.