Peak Rare Earths Limited (AU:PEK) has released an update.
Peak Rare Earths Limited has achieved a pivotal development in their Ngualla Rare Earth Project by signing a non-binding Term Sheet with Shenghe Resources, securing an integrated investment, funding, and development framework. The agreement includes a substantial A$96 million investment from Shenghe for a 50% stake in Peak’s subsidiary, as well as a debt facility arrangement to cover the remaining project costs, which exempts Peak from additional equity contributions. This strategic move propels the Ngualla Project as a leading contender in the rare earth sector with a complete offtake and funding solution in place.
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