Ann: Low pH Field Demonstration to commence at Lance Projects, page-4

Well well well, PEN management agreeing with You3OAte - one noddy badge for me. And the duration, 6 to 8 months: almost exactly what I predicted - second noddy badge for me. Although I do think to assess both mining performance and restoration amenability in 8 months is a bit optimistic. I would be allowing for 12 months in my schedule. 

This is a good decision by management and holders should be pleased that PEN is attempting to mitigate technical risk as far as practical - considering the history, it's the prudent thing to do. Obviously the risk has not been eradicated at this time and the trial could identify fatal flaws. Squeaky bum time for the next 6 months - there's a lot riding on this trial, not just for PEN. All US producers will be watching with bated breath as it gives them future processing optionality. It could spell the end of acid processing in the US or it could be the new paradigm - time will tell. It's a pity PEN was forced to take on the guinea pig role. It's never good to be the guinea pig. Good luck to those already in and getting in now. Personally, I would stay out of PEN until clues on the likely field leach trial outcome are announced.