Hi Reichman, you may have to go back into history a bit but in the deal with Pacmag (PMH) PEN were given the rights to develop the Uranium interests that lie in Pacmag's Blue Rose holdings in South Australia. There was signficant information available from Pacmag around, and before, the deal that indicated huge copper potential at Blue Rose but also substantial U potential which was traded with PEN along with the Wyoming holding. Since that time, neither Pacmag nor PEN have pursued any activity in relation to the Rose tenements, very typically keeping them in the back pocket for the future. The tenements are located around the Olary area in South Australia. If you are keen to find more, I would ask the company directly and I expect they will confirm the holdings but may not yet be in a position to develop them due to the North American activity at present. However, the Olary (Blue Rose) tenements were thought by Pacmag to have major potential and work was done to commence the confirmation process, which formed the basis of the deal with PEN, along with Wyoming of course, which I recall Pacmag indicating they would have preferred to hang on to in hindsight.
PEN Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
