Ann: June Quarterly Report, page-66

Those timelines will blow out ski, they always do...and I am not directing this just to Peak, but most juniors.

The next question I keep asking myself, and this is inclusive of Ngulla, Colossus and Makuutu, is,
as an upstream operation only, whether rock or clay, will it survive in this pricing environment?? which will
remain subdued for the foreseeable future, will it make money on its own?

Unfortunately, it looks like more and more ...no...

Next is if the west and China's relationship sour and they weaponize the resource, which they have previously done.

If this happens, you are partnered with a Chinese firm and will be cut-off, and can only supply to China....except China has its own state controlled supply, so not sure where that will leave you.

In this environment, I am not sure how the pure upstream plays will survive....especially tied to Chinese nationalisation.

Unless you have another low cost operation, segregated from China, with its own feedstock and supply chain independent of the motherland.

One that you may be able to integrate with an upstream resource if you can get the economics right....if you cant, then cut it loose.

But, we have Ionic Tech, which will take the company forward, no matter what China does, independant of their pricing regime, control and influence.