The most significant delays were caused by a dispute between Barrick and the Tanz Govt which caused the government to put all mining applications on hold for over ten years, this was finally resolved in 2019. Nothing to do with Peak or their management.
Since 2019 the delays have been due to Shenghe conducting very thorough due diligence which has apparently now been fully satisfied.
The company could have and should have in my view taken hefty cuts in salary through these periods of delay but they may have been left with a skeletal team and possibly not negotiated the terms of construction and offtake conditions they have achieved.
PEK Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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