Peak Rare Earths Limited (AU:PEK) has released an update.
Peak Rare Earths Limited has signed a significant non-binding Term Sheet with Shenghe Resources for a A$96 million investment in the Ngualla Rare Earth Project, which includes a 50% stake acquisition and a full funding solution that excludes additional equity from Peak. This strategic partnership is poised to double Peak’s share value and solidifies Ngualla’s position as a leading rare earth endeavor with a targeted final investment decision by December 2024. The deal further benefits from Shenghe’s industry expertise, with both companies sharing equal board representation in the project.
For further insights into AU:PEK stock, check out TipRanks’ Stock Analysis page.
