So will you wait for the estimate to change, or will you take...

So will you wait for the estimate to change, or will you take the plunge? Decisions, decisions....hahahahaha easiest ever for this little black duck!

28th May 2010
PEN.asx
Buy

6 Mth Price Target: $0.089
Uranium developer/explorer with assets in the USA, South Africa and Australia.

First production in 2012, with significant upside potential from exploration.


"Grade vs Grade Thickness Grade Thickness the Key
The Ross site, where recent results have been reported, is interpreted to contain average grades across its mineralised zones of 500-700ppm U3O8. Some of the recent results have been below the lower limit of this range; however are still viewed as positive for several reasons:

* Most of these results are not directly from the nose of the roll fronts where the highest mineralisation is likely to occur.

* The thicknesses intercepted mean that these zones remain highly economic in terms of development potential.

* Many of the results occur in stacked horizons, increasing the recoverable resource from each development well.

The industry standard economic cut-off for In Situ Recovery (ISR) uranium mining is based on a grade thickness of 0.2ft%, which is calculated by multiplying the grade by the thickness of the mineralised zone.

Peninsula used a grade cut-off of 275ppm and 325ppm when calculating its initial JORC resource;

however, use of the more widely used grade thickness method is likely to result in an increased economically recoverable resource. The Company has indicated that it will move to this method for its next resource estimate.

Next Steps Strong Newsflow at both Lance and Karoo"

source: Hartley report just out.