Irellevant for PEN illiquid.
Karoo is planned for 2016 long after Lance is producing and the U price is forecast to have increased.
You will find that both PNN and BMN would have come back in consideration around 2011/2012 as the u price rebounds due to increased demand. The current happenings will be long forgotten in 2 years time and PEN would already be in or very near production.
For now it is also far too early to look at capex/opex at Karoo as we don't have enough data to work on. Fair to say it will be higher than Lance, just by how much is the question.
Ironical isn't it. The ugly duckling PEN turns swan on something 'completely out of the blue'...or was it ;)
Watch it all pan out...
Cheers
Dhuyseng
capex and opex_benefits of isr and lance, page-55
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