No fatal flaws in the next 2 tests - but the market reaction...

No fatal flaws in the next 2 tests - but the market reaction says it all: this is ominous. PEN will get this type of result for the next 100 lab column tests, but for those who know, extension of the lab database does very little to reduce the technical risk of the commercial project. These tests are short duration and done in a perfect environment. Ignore (not totally, but mostly) all of the lab column tests - this is not a general rule, it's specific to ISR testing. Try and answer the question why commercial alkaline processing did not come close to matching lab alkaline testing. Over the months/years, I've given my opinion on why. Decide if this degree of mismatch was an alkaline once-off is it plausible/possible/probable for the acid scenario.

Results from the field leach trial are all that matter to the knowledgeable investor. If PEN are serious about this initiative, they will carry out a thorough FLT on numerous ore zones, not just one or two. This will take time and money - certainly more time than they are advising by way of announcement - in my opinion of course. Potential investors need to think very carefully and satisfy themselves that ALL the i's have been dotted and t's crossed. All of them.  

Sheet, my 15c prediction is getting close. I think I'm going to be badly off my prediction that I made earlier in the year (42c I think), but I'll still be closest to the pin I reckon. Let me guess, the bulls are preparing to "back up he truck", "average down" because of the great buying opportunity. Right? Wrong - I don't think the capitulation is over just yet. Still 6 to 9 months of uncertainty. Downtrend to continue is my prediction. Short term trading is obvious at these levels. That's never good for the LT bulls who are anticipating the violent upswing.

My opinion only, not financial advise, no intention to mislead.