as a point of interest, page-19

DSO phosphate = 30% grade; which Ngualla does not have

PEK have two quarters of funds left so they can only do their best

forecast expenditure for this quarter is $2,038,000, which leaves $2,990 for the Sept quarter

personally, i imagine the priorities are:

(1) continued drilling on Ngualla to increase the certainty of the JORC & establish JORC for niobium

(2) determine the metallurgical path to production

they may have to stop the scoping study if they can until funds can be raised at a good price (although scoping studies are generally very basic affairs)

if markets crash more and recession sets in then PEK may have to sack the staff

we still have an asset and, imo, firming up the asset is the most important thing