Well today is 03/02/2012, so come Monday the Indaba Conference...

Well today is 03/02/2012, so come Monday the Indaba Conference will begin. Shimmer already mentioned the Japanese Govt mob that have arranged to meet with PEK directors and I doubt they will be the only ones. I can see PEK employing a second receptionist just to answer the phone come next week lol.

Might see some buying towards close today, if not certainly early next week.

Have a read of this article and then have a think where PEK could be if they produce by 2014

Rare earths demand to surge 33% by 2016, says Kingsnorth


By: Matthew Hill

3rd February 2012

Updated 3 hours ago


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TORONTO (miningweekly.com) – Demand for rare earth elements, used in a wide range of technologies from precision missiles to iPhones, will grow by about 33% from 2012 to 160 000 t 2016, Industrial Minerals Company of Australia director Dudley Kingsnorth said on Thursday.

Demand for the group of 17 elements, which fell to 105 000 t last year, should recover in 2012, surpassing 120 000 t, he added.

China produces around 95% or global rare earths supplies, and has been cutting exports and production, which lead to a rapid run-up in prices in 2010 and the beginning of 2011, before global economic uncertainty hit demand.

While demand is set for substantial growth by 2016, Kingsnorth also predicted supply outside of China would increase more than tenfold over that period from 6 000 t last year to 60 000 t/y, as projects such as Molycorp’s Mountain Pass mine in the US and Lynas Corp’s Australian Mount Weld project starts producing.

By the end of the decade, demand for rare earths will hit 240 000 t/y, with China accounting for 65% to 70% of global consumption.

Speaking to a crowd at the Toronto Technology Metals Summit via video link-up from Australia, Kingsnorth predicted that supplies could reach 190 000 t/y by 2016, implying a surplus of around 30 000 t/y, but said there was “the issue of balance”.

On Wednesday, Technology Metals Research founding principal Jack Lifton said in an interview rare earths prices would likely show further easing this year.

Kingsnorth said they would likely firm in the first half of 2012, showing some weakness in the latter part of the year once Molycorp and Lynas start producing.

http://www.miningweekly.com/article/rare-earths-demand-to-surge-33-by-2016-says-kingsnorth-2012-02-03