End of 2012 was mentioned (more than once) for production though obviously subject to permitting and financing milestones being achieved.
Permitting looks to have no "show stoppers" looming on the horizon that could scuttle us, but financing seems to be a bit of a moving target at present.
As Gus mentioned, at the start of the year it would have been very easy to get money, then the money tap was shut off mid year and now he is confident that its achievable..... mmmmm I'd like to see how he does it...
And in the middle of all of this is a DFS utilising only 9million JORC pounds that doesn't sound like its really large enough to stack up. So instead of increasing the JORC figures we are working on a wider "economic study" at present... I cant see how extrapolating the current results into a wider area makes good sense and I cant understand how financiers will be impressed without proven JORC results... I would have liked to hear him say that they were spending all our money running drill rigs night and day to increase our defined "pounds in the ground" rather than waste our money paying themselves and various consultants more money.
Back to the chocolate wheel for me ......
PEN Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
