Hi jarg, I come up with different numbers and I've published...

Hi jarg, I come up with different numbers and I've published these quite recently. I will try and find that post fyi. Please explain how you arrive at $70/lb. Would be very interesting to compare notes. 

The cost quoted by PEN for the low pH processing option is 100% aspirational as were the opex numbers for the original project. PEN didn't come close to their DFS numbers for the original plant (that's why they've had to change tack) and I doubt very much they will come close to the costs being predicted for the acid scenario. In my opinion of course. 

The only chance PEN has of making Ross II profitable is to produce more pounds. A lot more pounds. Production has to increase between three and four fold (from historic average production) for breakeven total company cost of $50/lb. This is what my maths is telling me. 

So the question to be answered is "Is a 3 to 4 fold increase in production due to different processing chemistry, a reasonable expectation?" 

Can someone please confirm if PEN had held the quarterly webcast. 

My opinion, no intent to mislead, not financial advice.