Thanks Vintage for the transcript, have not been able to open...

Thanks Vintage for the transcript, have not been able to open the link - will have to wait until 10:30am today to hear the tone of the delivery.

Two quick things I liked, firstly he says the Asian group wanted to "try" to get a stake in PEN's interests. This implies that they failed - which fits with his further discussion of how they are buiding lbs to attract more major interest (presumably before making a decision about whether they need another party and on what terms). I only hope the intention of attracting interest is not for the purpose of a full sale (takeover). We would like to believe otherwise and I hope we are right.

The second is the focus on optimisation which seems to be about the practicalities of drilling and getting the mining actions happening, post permitting (or before if they are allowed to start building). This relieved my initial pang re a potential takeover and confirmed my view that Gus probably believes (as many of us do) that permitting is pretty much a given.

Happy with that.