Comparisons continued, page-7

I think the simple answer as to why other Producers are building their own very expensive Refineries, lies in the fact that most of them are still planning on selling their Product into the World and in particular Japanese Markets. China has had a virtual Monopoly on NdPr since the 1990's after the USA mothballed Mountain Pass. It is only now since China began closing down its illegal miners that Chinese Industry has opened up for imports of NdPr which is necessary to feed its existing refineries and maintain its domination in the production of the high tech electric motors and turbines.

Pensana's Chairman recognised this opportunity a while ago and it will be thru his impeccable connections with the Chinese Business Associations that Pensana will be able to capitalise on this advantage.