Ann: Shenghe Investment and Funding Term Sheet, page-25

your correct at today's prices , but we are forward looking like all investors tend to do, other than day traders. Its non binding but a frame work moving forward which is positive considering your own statement about viability and current ore prices. I'm not betting against the odds of prices staying this low , if you follow this segment you would know why, Obviously if prices remain depressed then it may not go through, the company and shenghe have constantly made commitments through announcements to reduce capex as well as opex , also unlike other plays peak has the added benefit of potentially other minerals which helps immensely to a projects viability. I think comparing from other peers we are in a very good position moving forward.