Ann: Quarterly Activities Report, page-6

A good summary of where we are at, with quite a few tit-bits of new information:

I am especially heartened to hear, we are now the subject of a bidding war between at least two local Govt areas for our presence and their potential offerings to attract Pensana's business to their regions. Trimming CAPEX and OPEX costs by exploiting synergies with existing Infrastructure is a great way to increase your NPV.

I think that delaying the BFS (Part 1) l the 16th Nov is a good move, as by then the uncertainty of "Looney Lands" election should have passed ! If Pensana had released it today the Market would have eroded all and any uptick by the end of next week. We have a date and it is not that far away to upset Investors. It is more important that the BFS contains accurate information, than to mollycoddle the traders.

Very Happy so far