| Peak Resources Quarterly Activities Report and 5B | |
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Strategic Funding Partners
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International Finance Corporation ('IFC'), a member of the World Bank Group, is to join with Appian Natural Resources Fund ('Appian') on a 20:80 pro rata split to fund the development of the Ngualla Project and the Company through Bankable Feasibility Study ('BFS') for a total investment of~US $25 million.
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US $3 million Bridge Loan Facility from Appian was received during the Quarter, allowing Peak to accelerate project development programs. Formal documentation for the Principal Transaction is nearing completion.
Further Beneficiation Success
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Post Quarter end in January 2015, Peak was pleased to report further beneficiation test work success in the production of a 52.9% rare earth oxide (REO) mineral concentrate. This is more than triple the Preliminary Feasibility Study* ('PFS') concentrate grade of 16.3% REO.
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A higher grade concentrate is expected to result in smaller leach tanks and lower acid consumption, potentially leading to reduced capital and operating costs compared to the PFS economic assessment.
Project Development Programs
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The appointment of environmental consultants just after the end of the Quarter marks the commencement of the regulatory permitting process for Ngualla.
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Additional opportunities with the potential to further improve project economics have been identified and are being assessed. These include build own operate contracts for capital items, reagent and location studies.
Planned Activities - March Quarter
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Principal Transaction (in conjunction with Appian / IFC) to be completed.
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Environmental baseline surveys to support the application for an Environmental Certificate to be completed during the quarter.
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Key development programs to be continued:
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Beneficiation optimisation programs in Australia and China.
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Leach recovery optimisation for the high grade mineral concentrate.
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Location study for hydrometallurgical section of process plant.
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Tender process for appointment of lead engineering firms for BFS.
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Peak Resources Limited
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PRODUCER |
CODE : PEK.AX |
ISIN : AU000000PEK2 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Peak Resources is a gold and copper producing company based in Australia. Its main assets in production are PEAK HILL in Australia and GEITA in Tanzania, its main asset in development is MENZIES in Australia and its main exploration properties are GOLDFIELDS URANIUM, YELLOWDINE and ASHBURTON PARABURDOO in Australia and IGUNGA, NGUALLA and LUPA in Tanzania. Peak Resources is listed in Australia and in Germany. Its market capitalisation is AU$ 88.3 millions as of today (US$ 59.6 millions, € 54.5 millions). Its stock quote reached its highest recent level on February 18, 2011 at AU$ 0.96, and its lowest recent point on April 09, 2020 at AU$ 0.02. Peak Resources has 477 460 000 shares outstanding. |