Ann: Trading Halt, page-31

shenghe know they will never pass FIRB on REE deposit, i expect all they will ever gain in shareprice weakness is 19.99 percent.

The UK operations and the under-table sell out though, that is Shenghe to grab for but the price of which wont be related to PEK shareprice but rather asset valuation.

This isnt shenghe.

Its very clear to me,
1) They were banking on Teeside to bridge the cashflow gap to FID
2) This didnt come through and they had less cash than the quarters needs, giving them no going concern and being in violation of a lot of rules as such (trading illiquid)
3) Management decided the best way forward is to do a small raise at a steep discount - no underwriting needed as this would take longer to do, rather its easier to discount it
4) They set the record date to yesterday so they themselves can participate and keep it fair for shareholders (note: desperate companies set record dates into the future )

Does that reflect good management? f-no

Is PEK abandon ship? All that happened was a 6m raise on a 50m company, lets all be a bit rationale here.... all the people saying lifestyle execs fail to see how long we were delayed because of tanzanian slowness and government.

PEK sold 50% of this asset for 36c - that is real.... you buy in at 10c if you jump in on the SPP

NOTE: I am not happy, i am just taking stock of what actually just happened