I think that the March Quarterly Report was splendid! And much credit is due to our CEO, Mr Davis and his colleagues, for they have been juggling a lot of important issues in this period.
Yes, the Report reiterated a number of accomplishments previously announced, but just consider what they mean. viz :-
1. The immanent cash from the sale of the Teesside property - meaning we will be able to finance ourselves for some time.
2. The finding of all that phosphate and making a connection with the local fertiliser Company. Giving the prospect of a small, but nice cash flow in about a year.
3. The finding of “bonanza” quantities of flurospar, with unsolicited approaches from outside Companies wanting “in” on the product.
4. The securing of promises of money from certain African financial institutions, should we need this.
All of which means Peek is going to be a bigger and more prosperous Company than imagined only 3 months ago
Regarding the main game, which is mining the NdPr stuff, I still think the preferable way forward is to get an agreement with Shenghe for them to fund, or principally fund, the project and provide the “turn- key” plant - all as previously contemplated.
But Shenghe’s involvement is conditional on an agreement being reached on their share of the new Company — Ngyualla UK Group. Here I think there has been - and still is - serious discussions between our Chairman, Mr Scrimshaw, and senior people from Shenghe. This is vitally important. In this, all of the good accomplishments listed above have greatly strengthened Peek’s hand at the table. We are no longer begging for their help but offering them a chance to participate..
The outcome of this negotiation means a lot for us. Each 1% conceded or retained involves a lot of money. I think our Mr Scrimshaw. Is the man for the job!
I can’t tell if an agreement can be reached, but if not, so what? We now have secured offers of money and the final engineering design, so we can just go alone. I can just imagine Mr Scrimshaw and Mr Galassi (our Construction Boss at Anguilla) just itching to get cracking.
So fellow share holders, no need to be negative. Big wheels are turning. Peek is now a bigger Company than only three months ago. The price of NdPr is rising. It’ going to be prosperous.
Wichetty.
Expand
(20min delay)