Today was the first day I saw consistent selling into the 2.1 bids, whereas they've bounced back up to 2.2c relatively quickly - I think mickqld is right, present sentiments given the news now.
It sure is taking some resolve to hold the line, but that my friends is what is required. I have little doubt that in another 2yrs from now PEN will be emerging in a big way and our investments will have created great returns. For the traders there will be enough to retain interest around Feb/Mar/Apr 2014 is my belief, and then again around the end of 2014 as production becomes a reality. For the long termers the end of 2014 heralds the true realisation of investment dreams.
Whilst nothing is a sure thing, PEN is now poised in a position where less than 1 in 5,000 explorers ever reach, the transition to producer.
We now have a clear pathway identified to achieve that. Final licensing in the wings. Multiple funding options - final arrangements still unknown (this is a major derisking element now given present environment). A team of people with specific expertise in ISR production.
There are very few puzzle pieces outstanding in my view.
A little patience now and the rewards will come.
PEN Price at posting:
2.1¢ Sentiment: LT Buy Disclosure: Held
