News: PPK Ppk Group's Unit Currently Assembling Initial Production Module, page-4

While generally positive there is nothing in the announcement beyond where things are expected to be. Having said that Dr Luhua is a bit of a colossus in the scheme of things.

What I think is happening with the share price is that there are some sellers who are taking advantage of any strength in the price. What you will notice if you look at the volume by price distribution is that when there is a large trade it is usually a seller forcing the price down. Price rises are on smaller volumes. I can only guess that there is more selling of shares from the estate of the late director and/or the AICIC shareholders as this is where the largest shareholdings are that are liquid.

This selling has been going on over the last few months, particularly after the AICIC shares were released from escrow and the executor of the estate of the later director was appointed. This has capped the price and forced a trading range from $13 to $15. This may go on for a bit longer yet and I'm not expecting a breakout for the time being.

Catalysts are the listing of LIS and any collaboration agreement, or progress in the JVs beyond what is expected. Preliminary final report is about 2-3 weeks away and that should provide a broad update. I think things are going along just fine at the moment but those who have come onboard since the May 18 announcement re the Li-S Energy battery may not think so but this will only last short term and one just has to exercise a bit of patience. Only keyboard warriors expect instant outcomes and real progress can take some time but when it does come it can be explosive.