Strategic Value of Rare Earth USA President Executive Order, page-28

PEK is an exceptional RE JORC resource, in fact one of the highest grade, lowest radiation resource outside of China. To be fair to President John Magufuli he is not under Chinese influence, in fact he cancelled soft term Chinese loans for Mbegani Deep Sea Port north of Dar-es-salaam to be built by Chinese companies. Negotiated tough deals with Barrick Gold.

Problem is with PEK management who are not engaging and cutting a deal sooner than later. PEK needs to learn from ASM who while waiting for EFA funding are constantly reporting about metallisation processes and devising efficient ways of metallisation in collaboration with ZironTech, ANSTO, etc and are constantly communicating. Same is the case with PM8. Investors are piling money into ASM and PM8 for a reason.

PEK needs to get moving in talking to Mining Department of Tanzania and engaging with President Magufuli, evaluating what PM8 and ASM are doing different.