PEK - Peak Resources

[Tropico]

I have PEK on a watchlist for Rare Earths and noticed it was up 4% today. It has dropped from the spp price and may have stuck some support/resistance levels. I might watch a little closer for the next few days.

Edit: Ok, 3.9%

 

[Dona Ferentes]

a bit of argy bargy going on?

Peak is aware that the Tanzanian Ministry of Minerals has indicated that it is planning to hold a signing ceremony in respect of various mining agreements, including agreements with Peak’s Tanzanian subsidiary, PR NG Minerals Limited, on 13 December 2021.

As per previous guidance provided to the market, Peak is continuing to progress discussions and negotiations with the Government of Tanzania with respect to an Economic Framework Agreement, Shareholders’ Agreement and other related documentation required as part of the formal grant of the Special Mining Licence by the Minister of Minerals. However, at this time, no agreements have been finalised, approved or signed.


also; Peak Rare Earths Limited (formerly Peak Resources Limited) advises that following shareholder approval at the Company’s Annual General Meeting held on 29 November 2021, the Company’s name has been officially changed with the Australian Securities and Investments Commission.

(trading ; under PEKDA for now)

 

[Sean K]

Must find some rare earths to invest in. Haven't got one at the moment.

 

[Dona Ferentes]

As per previous guidance provided to the market, Peak is continuing to progress discussions and negotiations with the Government of Tanzania...

Getting somewhere?

Tanzania signs $667 mln deals for rare earth and graphite projects

Tanzania on Monday signed agreements worth $667 million with three Australian companies to mine rare earth minerals and graphite, part of the president's drive to fast-track negotiations on long-pending mining and energy projects.

www.reuters.com

 

[Dona Ferentes]

Peak Rare Earths (note Name Change) locked in $27.5 million from local high net worth and offshore institutional investors at 50¢ a share – a 20 per cent discount to the last close – over the weekend, after Hoping for $25 million on Thursday.

The proceeds were earmarked for its Ngualla project in Tanzania, for which Peak Rare Earths finally received government mining approvals on April 17 after a five-year wait. The final investment decision is due for September 2023.

...And over three years

 

[Dona Ferentes]

Peak Rare Earths (note Name Change) locked in $27.5 million from local high net worth and offshore institutional investors at 50¢ a share –

...And over three years

and a year later ...

raising done st 10c a share

Equity Placement of $6 Million and a Planned $2 Million Shareholder Purchase Plan​

• Firm commitments received for a $6 million two-tranche institutional placement
o Tranche 1 Placement raised approximately $4 million; and
o A conditional Tranche 2 Placement to raise an additional $2 million
• Strong demand from a combination of existing and new investors
• Peak’s largest shareholder, Shenghe, has subject to shareholder and regulatory
approval, committed to top-up its shareholding to 19.9% through the Tranche 2 Placement
• Eligible shareholders will also be able to acquire Peak shares at the placement price through a Share Purchase Plan to raise an additional amount of up to $2 million, subject to shareholder approval
• The primary use of funds will be to cover transaction costs associated with the
finalisation of a proposed investment, funding and development agreement with Shenghe and to progress the Ngualla Project to a Final Investment Decision