STTCOMP PEK, TA LONG
Current Share Price 4.4 cents.
MC approx 27 million including entitlements issue that closed yesterday.
Cash after raisings should be approx 6 million.
75% of the high grade rare earths Ngualla deposit in Tanzania. Looks like Barrick are sorting something out with the government there who have probably realised there's no future for anybody in shutting the the whole show down. A new Minister for Minerals has also recently been appointed and she is making encouraging sounds about PEK's project and its importance to the local community.
ERP took 70 million shares in the recent placement and they have expressed a strong interest in entering
the rare earths business and together with PEK they will look to evaluate further opportunities in this space. They are backed by Tom Clarke who has built a mining business in the US with 2 billion dollars of annual revenue.
Raising done and dusted, politics sorting themselves out. A company with a 75% owned world class project whose share price has been going backwards while just about every other company associated with EV's has been lifting off.
Touched resistance on Friday at 4.6 and has an overhead gap to 5.7. Might be time to go.
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Below shows the peak of PEK at 94 cents in the last rare earth boom.
Not sure how many shares they had on issue at that stage or what the market cap was.
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