ngualla (rare earth), geita (gold) n 3 rivers, page-12

finally found something about ARU valuation for nolan

LT PRICE FOR REO BLEND :US$/kg 5 10 15 20 25
NOLANS NPV @ 10% REAL* :A$m 100% 20 495 1087 1652 2215

the report can be found http://www.rcresearch.com.au/pdf/mar10_g/RCR_ARU_1Q10.pdf

the report's dated march2010 and at that time, they had a prefered value of $10 for their REO blend and a NPV of 495mil. in their july update the prices for their REO blend has since increased 100% to $22.23. so NPV of Nolan should be ~$1.6 billion dollars according to the table.

comparing Nolan, we have to factor in the timeline difference both projects are on, the grades (similar atm), the amount (unable to determine thou Ngualla has a distinctly bigger footprint)

ARU with its Nolan asset (~$1.6bil) has a market cap of 300million atm.

PEK with its decently similar Ngualla has a market cap of 24mil atm.

imo, the market is not valuing PEK and its drill results rightly for the potential of Ngualla and we should see some re rating to at least 30mil or a sp of $0.26