Ann: Financial Results from Penny's Find Open-Pit Operations, page-9

Picking up on what Bentley has said about the underground access costing millions. He's right. But that will not be a cost to us in this case because we already have the access. It's like a door ready to be opened ! And the cost savings for the company would have to be as Bentley has said in the millions. Possibly as high as 9 to 10 million dollars which in all fairness should be looked upon as an asset the Board has achieved at no cost to shareholders. Therefore would it be drawing too long a bow to say the Open Pit has returned a potential 1.4 Million Dollars in cash plus another 10 Million Dollar asset in the underground access ? In which case we might well see the Boards efforts in a different light and agree the Open Pit has in fact been a resounding financial success and that the current SP of 1.5 cents is a steal and very much under priced. Time will tell. All IMHO. GLTAIH.