Ann: Shenghe Investment and Funding Term Sheet, page-19

sold 50% of a 1b NPV asset for 96m - not a good outcome given they had mac bank on M&A Defense.

Fair price given the REE prices are at lows

Fair price given PEK is free carried to production

unfair price given PEK is instrinctly worth more than this

But russell is a smart guy with a clear exit, he has invest his own cash at higher prices and he knows this outcome is the best for PEK. Therefore, it is what it is, and its now a question of where does the market see the value of this AFTER it realises what just happened. note only 144k shares traded today, thats hardly any volume as yet, I'd expect the bigger jump post investor breifing tommorrow