There's no news. Anybody who does their research on Peak will...

There's no news. Anybody who does their research on Peak will come to one basic conclusion: they need either money, or a signed contract for supply (which would be sufficient, along with the JORC estimates, for a bank loan, if the contract is big enough.)

Anybody who buys now is basically gambling that either the money comes through, or the rare earth market will heat up again soon.

There are two ways of looking at it. Number one: nobody's buying, because there isn't any good news. Number two: nobody's selling, because there isn't any bad news. My feeling is that it's a little from column A, a little from column B - but more column B than column A, at least for now.

The other question is what the intent is vis-a-vis funding if nothing comes through before the cash runs out. My opinion, for what it's worth, is that the company should go into cash conservation mode: we don't need to drill further in Ngualla; we should drill only what's necessary elsewhere to maintain the leases, or sell the prospective leases to other companies; and run with just enough staff to organise the financing. If we do that, we should be able to get by for a considerable time without needing to tap the shareholders for more funds.

Just IMO; there may be other factors at play that I'm not aware (or thinking) of.