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12:12
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Originally posted by dynofish:
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fwiw...I am voting against this proposal. I have a fundamental problem with the manner in which the asset which our company explored and pursued development of, has been raped by Shenghe. First we were sold out by the major shareholder when a 20% interest was sold to the Chinese company that is already the world's largest processor of rare earths, thus facilitating their maintenance of market dominance. Market dominance has significant unsavoury outcomes such as controlling pricing at all stages of production and I believe it would impact any returns to PEK as a raw material producer. Considering our asset is one of the most desirable resources globally, it stinks that we are at the mercy of a Chinese monopolistic player.
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I will also vote against for the reasons you formulated so well but also because I believe that as a producer or seller of practically anything you put a rope around your neck by dealing with and making yourself dependent on only one customer. It simply is bad business!
(20min delay)