PEN

3.64%

5.7¢ peninsula energy limited

Low pH Timeframe and Opposition, page-56

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j61034322

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13/02/19

17:50

Post #: 37427216
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Originally posted by You3OAte: ↑

It's not weird. It's completely fabricated BS.

If PEN had diligently done their homework during all the studies leading up to the final investment decision they would've identified problems with the traditional alkaline approach and changed tack to acid processing. The regulatory process would likely have been longer but at least they would have got it right first time. They failed asst the diligence hurdle as the least the years have adequately demonstrated.

This technical failure has cost PEN; both from a commercial and reputation point of view. To say that PEN had to go through alkaline processing before it could receive permission to proceed to the acid route is the biggest load of crap ever written on this technical issue.

A final comment. If acid processing only delivers a 30 to 40% improvement on alkaline processing, PEN is dead - that is a dismal failure. Alkaline processing only ever achieved a sustained 25 to 30% of nameplate (600,000 lb/a). 40% improvement increases this to 42% or about 250,000 lb/a. Stage 1 nameplate is 1.15 Mlb/a. So all this effort and the plant is 900,000 lb/a short. As I said, if bunny is right, PEN is dead.

The comment about being at full stage 1 production by September 19 is also nonsense. This gal doesn't understand ISR production ramp up.

So many likes for a post that contains so many blatant errors. Wow.

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PEN Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
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Low pH Timeframe and Opposition, page-56

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