less than four months to initial jorc, page-29

good point Bill. let's remain conservative and let them surprise us if they come up with something better. There is nothing wrong with 8m lb as a starting point and even if we have to wait till June 30, it is not too long a wait.
ATM, I beliieve we are on the verge of a big run in SP leading up to the JORC announcement. I don't think it matters if you believe in TA or FA, it is looking really good for PEN at present on all fronts (multiple fronts).

KEYPOINTS - WYOMING
June 2010: Initial JORC compliant estimate at Ross
and Barber Projects
2nd Half 2010: JORC compliant estimate at Ross and
Barber of 12m -18mlbs
1st Half 2011: complete feasibility study at the Ross
Project
2nd Half 2011: plant construction and commissioning
1st Half 2012: Production commences at Ross with an initial target of 1.5m lb/annum

KEYPOINTS KAROO
1st half 2010: commence development drilling
2nd half 2010: independent scoping study
2nd half 2011: initial JORC compliant estimate

TA: MACD crossover and SP triangle wedging up to 4.7. A solid breakthrough here would confirm the new up trend and reconfirm the overall longer term up trend of the last 12 months. PEN has already shown a gain of around 200% in the last 12 months and is easily outperforming the general market which has only gained around 50% in the same period.