Perth, Australia (ABN Newswire) -
Peak Resources Ltd. (ASX:PEK) (OTCMKTS:PKRLY) wishes to provide an update on progress towards a funding transaction for the development of the Ngualla Rare Earth Project.
Since announcing the termination of negotiations with a possible cornerstone investor on 18 July 2013 after insufficient progress was achieved, the Company has received expressions of interest from several new potential funding partners. Peak remains in advanced discussions with a number of these parties.
Further details will be released as they become available.
Metallurgical test work at ANSTO Minerals solvent extraction facility near Sydney is nearing completion with the production of the fourth and final high purity separated rare earth oxide, a cerium product, expected shortly.
About Peak Resources Limited:
Listed on the Australian Stock Exchange (ASX:PEK) in November 2006 and based in Perth, Western Australia, Peak Resources Ltd. is developing the Ngualla Rare Earths Project in southern Tanzania. Peak also holds a number of gold projects comprising a mix of brownfield, greenfield and advanced exploration prospects in the highly prospective Lake Victoria Goldfields area of Tanzania.
Peak’s goal is to generate shareholder value through:
- Development of the exciting new high-grade, low uranium and thorium Ngualla Rare Earth discovery into production
- Exploring for niobium-tantalum and phosphate at Ngualla to generate a pipeline of additional commodities
- Discovery of new gold deposits within its large, highly prospective portfolio of exploration projects in Tanzania
- Aggressive new project acquisition programmes in East Africa
Peak’s head office is located in Perth, Western Australia with an exploration office in Mwanza, Tanzania.
Source:
Peak Resources Ltd.
Contact:
Peak Resources Ltd.
T: +61-8-9200-5360
F: +61-8-9226-3831
WWW: www.peakresources.com.au
