Sinomine deal done This is great news for PWM although I would have loved to have seen the terms of the offtake agreement. This offtake agreement itself is a material change but the terms of the agreement also constitutes a material change. So are we to assume that Sinomine have the right to purchase 100% of the trifecta of rare earths for a $1,500,000 investment in a PP that is already 30% in the money. If so would any shareholder see this as a fair deal for them?
PWM could of raised the $1,500,000 (Sinomines share) in the market without any agreements. They could of gone back drilling, start preparing their maiden resource and if it as great as we believe there is no doubt the stock would be rerated. Not being negative as I believe that PWM is sitting on a World Class Deposit and there could be more to this story yet to be told. I have a large position in PWM and will add to this position once I understand this puzzling business arrangement between Sinomine and PWM.