So Where Does the Binding Offtake Agreement with VHM leave PEK?, page-15

Cool down fellers. There is too much negativity. A straight forward view of this company is that it is still going to make the final investment decision in May. Yes, the price of NdPr has fallen badly - I am not sure why - but the compay's last quarterly report indicates they can still get going profitably now, and with expectation that the price of the product will increase during the life of the mine.

The way they are spending money on necessary preliminary site works says to me that they have good confidence that Shenghe will "come to the party" soon with much money, and they will also proceed with the building of a "turn-key" mine and concentration plant. All as previously announced.

I think the company is being run properly. There is no talk of a take-over, except by some disappointed people on this Forum.

Share holders just need to hold on for another two years at which time you will see every thing operating, and dividends will follow shortly afterwards.

Whether the share price will rise to reflect the real value of this company is not clear to me, as Australian SH's seen to be reluctant to invest in Africa.

Wichetty