Ian! "Most, informed GUESS!" Sounds like an oxymoron to me, but...

Ian! "Most, informed GUESS!" Sounds like an oxymoron to me, but is this not the way! You've been around this family a long time I know, you have outlined the stakeholders pretty well and the overlaps in directorships and project management tell a tale to me. The bottom line, apart from this web, is that the spin offs owe those tight and loyal holders a fistful, and like the convergance of timing and locations.

In my view, and as all the good folk on this thread have shown through their fantastic knowledge and research, Pen stands alone, as a strong and viable project with opportunity for considerable gain ... the broader synergies just add masses of value to my way of thinking which is why I have hoisted the flag!!! :)