i believe our boards reality is that they got into bed with Shenghe and in effect lost all other opportunities
They signed up 100% offtake
They brought in Macquarie as take over defense, but it came to nothing,
They put their hopes in shenghe who then turn around as said "China says we cannot help you unless you sell out to us". on the 11th hour PEK was snookered and had no choice.
So they sold us out
but we have the power to make shenghe pay more, it wont be a fair price but as a group we can get them to up it.
they bought 50% for 96m, 100% should be 192m or 25% miore. Thats a start but personally not enough, lets hope another suitor jumps even and is happy to have a 100% offtake in place. This limits our US options who wont sell rare eaths to china, but hopefully Aus or other options will join..
PEK Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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