hartleys valuation, page-71

Hi JJ,

I must admit I have not seen that one, but sounds like classic M/P.

I tend to agree with what you say about certain small caps.

This is whats drawn me to Pen,

:Solid Shareholders. Its always nice to see that management has a large stake in the company.

:Jurisdiction. Wyoming ranked No.2 in the world by mining companies as the best places to mine.

:Infrastructure. This can catapult the startup cost if its not in place. Roads, Electricity, Water.

:Capital Costs. Typically, the lower the capital costs, the less risk in the project. ISR say no more

:Cash. Not only what the company is holding, but their ability in raising cash when required. Proven themselves their.

:Drill DataBases. Just got strenthened Big Time.

:JORC. Its coming, thats why its cheap.

and what really tipped me over the edge here was not only has it had an existing mine that successfully operated on Ross, but the simple fact is, its a great story developing. I try to buy into early stories, you just don't see them often in junior explorers. "Junior turns Producer". Everything they seem to be doing they are doing well.

If they pull it off, and I stick to my guns, Pens going to make me very rich indeed Imo.

Its so much easier to stay on course when you have posters of a similar longterm view like hangseng and others to bounce things off.

I find Pen a very easy company to invest in.

Cheers NK