major , page-55

Cheer up Mark, the results are not causing the SP to drop in that they are great results. Cautious traders selling the news might be part of it, but the news has certainly been good. There are people who think ST and people who think LT as far as investing goes. Todays results are in the bag and are exeptionally good as were the previous. The days of REE results causing SP jumps of 30 or 70% seem to be over.

The other major factor is the little box to the left, down 58 points as I type. This is quite a major drop and will effect all Australian companies today.

Now for PEK and most of the Aus REE prospectives its a process of attrition. Each lot of results adds to our already enormous resource and puts a resource base under our SP which is more important LT than a hype base.

There are still several major price driving events to happen in the future of PEK. Some may happen, some will happen. To cheer you up a little I will list 10 before i go down the beach for a surf, it will only take a couple of mins, i think about this stuff a fair bit.

In no particular order, price driving events that i reckon may or will drive PEks SP in the medium term/long term. Remember not all of this is new ideas and not all will happen its just some musings,

* The maiden Jorc will be announced early next year.

* We may at any stage have a Industrial investor, or even a competitor take a direct holding.

* We may at any time sign an offtake agreement with a prestigious consumer of REEs such as a Japanese or European electronics producer.

* We may at any time be subject to friendly or holtile T/O attempt/s from outside partie/s.

*At any time we may have significant news of progress regarding the benifiction work being done by Batemans.

* We may at any time have news regarding the drilling of gold targets in Tanzania, which may on receival of results be a significant driver of SP. I expect Tanz gold drilling to start before the jorc is completed, but thats just what I reckon.

* From the jorc we may get some idea of the size of resource of our Niobium, Tantalum and Titanium and also our Phosphate. This is likely to drive price in the medium term.

* We may at some point duel list on say the German or the U.S stockmarkets. This would not happen until after the maiden Jorc if it happened at all. Molys SP is many multiples of ours and the American market is much larger and much more bullish about REEs than our comparitivly little Aussie market. I would like a bit of that action at some point in the future.

* The company itself may decide to split the company into a Ngualla based REE based company and a Gold based company primarily around our Tanz gold assets. This may give us much greater value far quicker from our gold assets which the market hardly recognises at this point.

* News of any drilling planned by us or neighbours drilling results at Doolgunna.

There are others I can think of and as I said these are just possible ideas. Anyway the beach beckons.

You get the point.

In the case of Ngualla i expect the expected and i also expect the unexpected.

Tretch