resistance, page-76

Despite all the positives about PEK we are unfortunately in the doldrums.

Our fundamentals continue to improve but there seems to be a lack of appreciation for what I see is a considerably undervalued company.

The inability to break out of our trading range over the past few months, even on good news, is a leading factor inhibiting SP growth. A self perpetuating or negative feedback loop. Sure there are other general factors in the market, like Europe, that play a role but the false starts we have experienced are holding us back. The belief in the market that we will breakout is eroded with each false start and confidence wanes. The upside imo is that when we do finally breakout it will be significant.

In times like this I think that we have to be patient. I suppose there is no other choice unless you sell and move on. Its a cliche to say 'patience will be rewarded' but in this circumstance it rings very true.

The good news is that, as PSK put it, 'Ngualla is too big to be ignored' and there will be a re rating of Peak. Now when this is? I dont know but we are certainly approaching a very exciting time in the history of PEK with our initial JORC and the coporate activity that is likely to follow.

So the clock is ticking...

Cheers

Retrac