process plant construction

Having just looked again at the PEN stated timelines for first production, one at "2nd half" and one at "Q4" both 2014.

And the following statement 20 December 2013:

"With significant pre-SML site works being completed, the Company is positioning itself to move quickly to full construction of the CPP and production well-fields upon issuance of the US Nuclear Regulatory Commission SML, scheduled for late March 2014. Subject to financing and SML grant, commencement of production is planned for the second half of 2014."

1. Subject to financing - this will need to be in place very soon.
2. Subject to SML - looking good (not March as stated above obviously) but with a possible stay pending.
3. Only 9 months left of 2014 - no sign of funding as yet.
4. They clearly have long lead items well underway, possibly even completed by now judging by the Dec 2013 photos. This I would like to see complete and an announcement would be the best way to do it...with photos.

IMO, unless the following occur PEN will not meet the stated milestone of even Q4 2014:

1. SML is issued without hinderance.
2. Funding is announced as confirmed this month.
3. They immediately commence full scale construction by the end of April.

They will need to expedite all aspects of construction and soon. If not, then no way they will complete construction IMO, let alone wet and dry commissioning and 1st production.

This is a relatively easy plant to construct, however it has a load of piping and vessels to be placed in a tight confined area. I would love to see a construction and commissioning schedule.

Not counting for any hearing outcomes, I believe realistically 1st half 2015 will be the earliest we will finally see PEN producing.

All just my thoughts, based purely on my own experiences, knowledge and what is in front of me...i.e. Educated "guess".

Would loved to be proven wrong ;-)