U price up to 33 month high, page-20

Righto. Forgive me, but I'm a bit sceptical about believing what you've interpreted from your notes from the investor presso. Previously, the question about the field leach trial seemed to cause your knickers to get in an awful tangle. Happy to receive verifiable confirmation of "plant modifications underway" if you do come across this in one of the recent announcements.

"Wayne confirmed at the investor presentation (and I recall a mention in recent announcements) that any work that can be done with regard to replacing conduits etc. which can be done (in that it doesn't cause issues for current production) is being done in advance of the movement to low pH." So, in essence, PEN has already made the decision to proceed with the low pH processing option and has started with implementation. Call me Mr Picky but I would have waited for regulatory approval, further test work confirmation and completion of the DFS - just to name a few of the most obvious current obstacles to implementation. Brave man is Wayne.