Perth shareholder info sesh, page-3

I went yesterday. Good presentation to about 20 retail investors and at least one analyst from Argonaut.
A lot of time spent explaining how difficult it was to get a debt finance deal across the line. Gus seemed very pleased with the current deal, I think he released the same presentation to the ASX.
I quizzed Gus about the extension to the exercise date of his options, at the same time explaining that with the release of nearly 4 Billion new shares ( 2.4 Billion shares and 1.6 Billion options) that there is no way that we will reach a market cap that would see an 8 cent strike price, and without asking directly if a takeover meant that his options came into the money, asked if there were any conditions that triggered the conversion of the options, he couldn't confirm or deny as it was "price sensitive". So If it's price sensitive then they are definitely triggered by a change of ownership event, otherwise it wouldn't be price sensitive.
After the meeting I asked what the likely hood was of Pala or Blackrock would launch a takeover, Gus actually said that he didn't they would launch a takeover, that they wanted to build a long term profitable business. Not sure I agree with Guss' assertion.
Probably the one thing that I can say that I learnt from the meeting was that Pala is no longer a seller of their stake, a few months ago the head of Pala was replaced, and the new head Pala, is actually an old CEO of Peninsular. Pala are now happy to hold.
The only legal challenge remaining relates to Dust and lighting. So even if the court finds against Peninsular, all it will mean is that they may have to have a water truck to keep the dust down, it can not stop the mine going ahead.
I'm at work so cant spend hours posting, and notes are at home. If I get a chance tonight I'll go through my notes and post further info.
In short one more contract to come, that Gus can't confirm, a recent contract that Gus couldn't confirm the price (?), and then not too much effort in trying to put contracts in place until the price of U308 appreciates considerably.
Another interesting thing is that (industry wide) the majority of current contracts are exhausted by 2017 (Gus said 90%). It takes approximately 18 months to turn mined U308 into a fuel rod. So Gus is expecting contracts to start being signed again from mid this year (industry wide) so utilities have a guaranteed source in 2017. This should see a marked & sustained appreciation in the price of U308 from the middle of 2015.
So all in all, PEN will be the next U308 miner listed on the ASX.
Gus isn't expecting a takeover from any of our cornerstone investors, although the extension of the expiry date of his options at 8 cents makes me believe otherwise.
Pen will definitely be a producer this year, August I think is the target for production.
Any questions happy to help if I can
Ciao