good point Bill. let's remain conservative and let them surprise...

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.