Step aside Gus, page-30

The irony of all this is when PEN bought out the then "Sundance" projects from PMH PEN was touted as a dog going nowhere on HC and all piling into the HC favourites. Hindsight, in a short term trading sense, they were right. Long term though there is only one still left standing having gone into production apart from EXT that was bought out earlier on by the Chinese.

Regardless here we are into early stage production ramp up and the sp still floundering about....for now. Again with hindsight until PEN ramps up to some serious production, that will require more header houses, we aren't going far. Current production of 9,200'ish lbs in 4 months isn't enough to move the sp and a long way from nameplate of stage 1 at 700,000lb/pa that required 7 header houses. They now only have 3 header houses on line but are ramping up faster now, so hopefully by the end of the year they will be well into stage two installation and have the first 7 header houses in operation. They have a 15mth ramp up to stage 1 nameplate so hopefully they can finally get a move on into serious production in stage 2 of 1.5m/lbs/pa and along with it move the sp.