Nice find F15,I hadn't seen that graph before. And as you say,...

Nice find F15,

I hadn't seen that graph before. And as you say, looking beyond the obvious Zinc story, I could imagine you could apply that cycle to almost any resource.

The good thing is, is that PEN are most probably sitting just little higher than number 1 in the green stage in that "Life Cycle of a Mining share".

The other good thing and what I think separates PEN from the others, is that they are running so many things in parallel with the JORC, unlike waiting for the second stage before starting these other processes. So already they are leap frogging ahead on that chart even without having a JORC in place.

On top of that, the funding is already sorted, (if they choose the YA Global path). So maybe we won't even see the big drop in the yellow part of that chart as that part is not an issue now.

But without doubt one of the most important things for an ISR miner Imo, is permitting and possibly the most important, as this alone will reduce the risk of the project significantly. So I don't necessarily fully agree with the risk factor in the "Stages and Techniques" section that has rated the permitting in the low risk catergorie. Maybe for conventional, but not ISR.

Cheers

NK