Cheers for that edification MadMax!

I have to admit I have never had anything to do with Magnas professionally. Belt was done by previous owner very recently so February at 145000kms (I've only had the car since March and it now has 156kms on it) but obviously not the tensioner. It was all done for the Roadworthy as the rocker covers and cam seals were leaking and the belt wasn't changed ever. So based on what you say re the tensioner, the Penrite is probably OK after all. I have noticed the rattling doesn't occur when it is warmer, so maybe I should put a new tensioner in it. We'll see.
Also, mine has never had any tappet noise when cold (or any other time) in the 6 or so months I've owned it.