I have just looked back at the SP for Peak. 21st July 2021 it stood at about $1.40. Then just prior to Appians’s sale of their 19.9 % holding the price was $0.85 and now after the latest news it is down to $0.48. I find it very difficult to find any enthusiasm for Shenge’s involvement and it doesn’t look as though the markets do either.
I would like to take a more optimistic view, but I don’t think there will be much forward movement on Ngualla for some time, as Shenge will be happy to sit on their asset until a more favourable world situation. Also, I think this spells the end of Teeside as a refinery.
Ann: Peak and Shenghe Sign Offtake and Strategic Co-operation MOU, page-90
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