PEN is not ready to mine phish. The rest of this year will be consumed by 'derisking' activities. Then they've got to find $20M for Phase 1. Then they've got to implement Phase 1. So a long way off until the first pound is extracted.
Plus the small matter of contract monetisation to be resolved by end April, failing which they need to find $17M by end October.
All the above confirmed in half yearly report. The "Going Concern" section of that report is rather concerning for PEN shareholders don't you think?
Meanwhile the SP continues to get pulverised. Raising funds becomes harder and harder.
PEN Price at posting:
13.0¢ Sentiment: Sell Disclosure: Not Held
