This might stablize price above 8 cents but won't propel price upwards as long as we do not have a framework confirmation with the fickle and slow Tanzanian government in place.
Holders have been burnt for years waiting for the illusive SML, only to arrive and smash the share price down.
That will not be quickly forgotten by many holders.
There were ample other options on the table for such a lucrative resource in a global appreciation of the price.
PEK now a long term play with considerable risk involved due to Chinese investment in Tanzania in the vicinity of 15 bil.
Until framework is decided upon, thsi remains a speculative investment, hence the current share price.
Early next year should provide some clarity.
Given past developments, the Tanzanian government has not shown speedy support for the project and this could drag out again, as did before.
all IMO
PEK Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
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