Ann: Penny North High Grade RC Results & First Diamond Drill Core, page-59

I think SPX at Penny West (or its future owner) has a very bright future and with time they will discover probably multiple lodes like the original mined in the open pit (truncated by erosion and pinching / faulted at about 120m below surface) . The Penny North lode is showing the first signs of pinching a bit at depth but this is the nature of these systems. With time and money the prospective shears will be tested, better understood and extended with new lodes defined. Mining just the first 200m vertical of the Penny North lode should provide sufficient time and funds to allow significant resource / exploration drilling.
The tricky bit for SPX is defining a resource / reserve, raising capital to mine and process(?) and then establishing cashflow without getting swallowed up by a mid tier too cheap. Bumps in the road when drilling these things out provide buying opportunities but sticking a JORC resource on it too early has the potential to undervalue the company and limit the upside potential that may take a few years to drillout / discover.
I just wish they would be a little more transparent with the holes that have poor intersections in key areas - they have a habit of only releasing holes that have grade and not the NSI ones.