Ann: EPCF Heads of Agreement for Longonjo Project, page-6

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DaisyA

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20/07/20

09:29

Post #: 45972692
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Originally posted by DaisyA: ↑

This was always going to happen. Bottom line, the CCP told Angola to approve it and support it: "Sit back and enjoy the ride and even invest in it if you, want regret it." The deal is that this very large important Chinese company with no close ties to the CCP has done a deal which says we will build it all (exclusively) and arrange the finance for you which MUST be through Chinese banks. Again, like Angola, Great Wall has said to PRE just sit back and relax, we will take care of all of this. No western interest in this at all except for the LSE listing and whoever has been buying it. Maybe Chinese. Why don't the Chinese just take us over you say, well I think because it would cause too much trouble with international relations if they did, but who really knows. If the market does not like this move then I would be concerned that it is because they don't like the huge Chinese influence. We shall see but on paper the market should. If you ignore the Chinese factor this is a dream deal. Longonjo will not fail now, it will have as much funding as it needs and a guaranteed market for everything it produces. You also suspect that its mine size is even bigger than the company has let on (as @china syndrome has recently suggested). I just hope that China plays nice and by the rules. The fact that the mine is in Angola and we are listed on the LSE gives me hope. The other thing that we can say from this is that this is clearly a very significant world rare earth mineral resource which the Chinese do not want to let out of their influence.

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Sorry everybody, wrote that too fast. I meant to say that Angola "will not regret investing in it" and that Great Wall clearly has close ties with the CCP given its history and things that it does for the Chinese Government. This is the only potential negative of the deal but maybe not.

PM8 Price at posting: 36.5¢ Sentiment: Buy Disclosure: Held
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Ann: EPCF Heads of Agreement for Longonjo Project, page-6

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