Peak's goal is to generate stakeholder value through the development of the Ngualla Rare Earth Project in Tanzania into a ‘New Generation’, long term, low cost producer of the magnet metals neodymium and praseodymium - the high growth segment of the rare earth market.
Listed on the Australian Stock Exchange (ASX:PEK) and based in Perth, Western Australia, Peak Resources Limited discovered rare earth mineralisation at Ngualla in 2010 and is fast tracking the projects development in partnership with sophisticated investors Appian Natural Resource Fund (Appian) and International Finance Corporation (IFC), a member of the World Bank Group.
The Company is well financed to advance the Bankable Feasibility Study (BFS). The project is now substantially technically de-risked with a large, high confidence Mineral Resource base, demonstrated low cost metallurgical process and robust project economics demonstrated at Preliminary Feasibility Study (PFS) in 2014.
Current development studies are based on just over a fifth of the total Mineral Resource but still support a mine life of several decades, suggesting potential for the future expansions of the initial production profile. Near surface niobium-tantalum and phosphate mineralisation intersected by drilling over a wide area remain at an early stage of evaluation and may represent the potential to generate a pipeline of additional commodities once rare earth production is established.