Hey Dhuy, Mean't to jump in, in response to your post re PMH and...

Hey Dhuy, Mean't to jump in, in response to your post re PMH and PEN sometime ago, but life has got away a bit of late. but wanted to give you my read on your question and thoughts....

PMH sold Lance along with some its SA assets, to PEN to finance the work up their assets in Nevada. Copper is still the key play with 810m/t confirmed (Oct 06). This figure is expected to be substantially increased as a result of the said drill program and considerable acquisition over the last 18 months. The revised JORC is due this quarter, and yes, Moly is an understated play there.

What is most relevant I think in terms of this relationship is that despite the sale of Lance, PMH in my view has really never taken its eye off the U308 game. It continues to hold interests in the area surrounding that which it passed on to PEN in Sth Aust. More significantly, this year it has acquired and fast-tracked exploration at the Sentinel U308/Moly project in North Dakota (and found what may well be the world's first commercial germanium mine along the way). A JORC is also anticipated on that in this quarter as I understand.

If you want to see evidence of the seriousness of PMH's ongoing uranium play and the links and similarities with PEN's strategy, I suggest you take a look at today's annoucement re the Sentinel project...

OK, so to the point... Dhuy, you mused...

"Does this mean at some stage communications between PMH and PEN will continue?"

Throw on the back of the above, the following facts... and I think you have your answer...

1. PMH remains a substantial holder of PEN with a 5% holding
2. They are neighbours in Ord Street and 2 Australian companies seeking to fast track into US U308 ISR production;
3. Through their JV interests with GIR and its broader family, they have access to key US U308 players;

and most importantly of all...

4. Both projects (Lance and Sentinel) are managed by the same team!

:) No doubt in my mind they are talking... Dhuy....

Cheers, DL