Ann: Enthusiastic Share Purchase Plan Take Up, page-26

Hi Gav
Re - the production cost of $88/lb. A question I asked at the briefings and was saving (savouring?).
- Were PEN going to alter the pumping and recovery bore pattern on the new areas under ISL.
After some thought (he was taken aback?)- The answer was no what they were going to do was turn off the lower recovery holes (sections) and concentrate on the higher recovery sections/solution areas.
That inherently gets the production cost down, enhances cash flow and allows the slow dissolution/recovery areas to be held in reserve to when prices better support it. (the last is my analysis of his thinking).

Cheers.