Based in Perth, Western Australia, Peak Resources Limited is developing its 100% owned Ngualla Rare Earth Project in Tanzania. Favourable mineralogy enables a simple, low risk and low cost processing route which, together with high grades and extremely low uranium and thorium levels, distinguishes Ngualla from other rare earth projects. The Scoping Study Update completed in May 2013 defines robust project economics further improved by the new Mineral Resource estimate released in April 2013 and recent beneficiation test work results. The revised Scoping Study confirms Ngualla as a leading rare earth project with an NPV of US$1.768 billion, IRR of 60%, annual revenues of US$378 million and payback within 3 years. Ngualla is a new discovery and one of the largest and highest grade rare earth deposits in the world.
Peak’s strategy for growth is to develop Ngualla into production rapidly via lower capital costs and establish the Company as a lower cost quartile, long term producer of clean, high purity rare earth products.
Peak Resources also holds a number of gold projects 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 portfolio of exploration projects in Tanzania
- Aggressive new project acquisition programmes in East Africa
Peak Resources listed on the Australian Stock Exchange (ASX:PEK) in November 2006.