pre open?, page-63

Interestingly the last time Pen raised with instos an increase in share price can be seen. This was on the 25march 2010. Although market conditions were different then and the price was declining prior to the raising at 4 cents for Hartleys Limited clients. The ann regarding the upcoming maiden JORC resource on 23rd march pushed the price over 5 before the trading halt.

The announcement of the JORC maintained the price around mid 4s before meandering it way back to the 3s.

I think the same will happen here (whatever the format of the raising) and we might see a resource upgrade to hold the price before slow retrace to early 6s before another positive news flow kicks in the new year for the next capital raising Q2 2011.

Could be totally wrong of course either way growth in SP is happening long term.

$10 mill certainly does not go far these days