Peak Rare Earths (ASX:PEK) has delivered their quarterly activities report, noting that they have been making positive progress towards the development of the Ngualla Rare Earth Project.
There are have been advancements in a number of areas for the company, including the Shenghe transaction, where substantial progress was made in advancing negotiations and documentation with Shenghe Resources Holding Co., Ltd. The Peak Rare Earths team has been meeting with Shenghe Holdings to discuss the impact of potential regulatory changes in China, while also progressing with negotiations.
Peak Rare Earths has also completed a capital raising, following the successful completion of an ~A$4.8M equity placement in the December 2024 quarter, an additional ~A$3.8M was raised in January 2025. Following the completion of the capital raisings, Shenghe Singapore’s shareholding in Peak increased to ~19.9%, due to the allocation of ~A$1.7M of financing.
Over the past quarter, Peak has continued to progress negotiations around the sale of its non-core 49-acre Teesside site in the UK and are looking towards a near-term sale.
There have also been some changes to board of both Peak and Mamba Minerals, with Ian Chambers resigning from the board and Hannah Badenach being appointed Chair of the Audit, Risk, and Sustainability Committee.
To find out more, please visit https://peakrareearths.com/
To read more articles like this, please visit www.theassay.com/news
