PEK

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18.5¢ peak rare earths limited

Mate - just so I get this clear - you agree with Rameez re:...

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ludba

2,254 Posts.

26/09/14

14:02

Post #: 14034307
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Originally posted by sjl ↑

I have to concur with Rameez.

Pulling the rug out from underneath a company that has developed a potential mine, from initial exploration, through proving the resource, all the way to developing a plan for exploiting the resource, will send a very clear signal to prospective investors: "Steer clear of Tanzania". That's a card that they get to play once. The country should (and, I believe, has) set a royalty rate for its minerals, such that they get a return from any mining operation; they can (and, IMO, should) use that revenue to improve their internal capabilities for both future mining projects, and other, non-mining projects. Trying to keep the whole pie for themselves, in this instance, would just be shooting themselves in the foot.

The complaints from the locals seem to me to be, more or less, a case of wanting something for nothing - were they competing for the license to explore that region, or are they Johnny-come-latelies? (Guessing the latter, but I don't know.) As the government official observed, mining the resource is the easy part; turning it into a saleable commodity is the key issue, and that's where Peak has (to date) been a valuable partner to the government. I don't think Tanzania will be so short sighted as to throw them under a bus (metaphorically speaking) - but it is true that until the mine has actually been built and is producing, it remains a (hopefully small!) risk.

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Mate - just so I get this clear - you agree with Rameez re: Tanzania - yet you say "Steer clear of Tanzania" card for investors.

I probably misunderstood your point - but in the end - are you bullish or bearish?

PEK Price at posting: 9.7¢ Sentiment: Buy Disclosure: Held
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