PEN 3.64% 5.7¢ peninsula energy limited

I've answered this question previously slick and will try and...

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    I've answered this question previously slick and will try and re-post when I find it .


    PEN's argument is "we want to do it" from a technical point of view but it's "way too hard" from a regulatory point of view. My answer was that in my opinion, this was bordering on negligence. Investors should not care how hard it is and how long it takes to get regulatory approval for a field leach trial, they should demand it as a means to prove the concept and mitigate technical risk. As you correctly point out, the leach trial confirms metallurgy and hydrogeology. Field leach trials for ISR projects are common.


    I have heard the excuse/explanation from Wayne via ura as to why a field leach trial is not being proposed and I still reckon it's a very poor decision. It does not minimise investment risk, which is a key requirement of all BOD's. A field trial would go a long way (not all the way due) to confirming the concept and the performance that can be expected from the plant.  

 
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