Peak Resources Limited (ASX:PEK) Managing Director, Richard Beazley discusses ‘Developing a New Rare Earth Discovery’ at the Africa Down Under Conference in Perth, Western Australiafrom 29-31 August 2012. Peak Resources Limited
(ASX:PEK) has a number of gold assets around Lake Victoria, Tanzania but principally our flagship is a deposit in the southwest known as Ngualla. It’s an exciting rare earth project where we are moving into development phase. The area we’re working in is mining savvy and great to be in, Tanzania being the third largest gold producer in Africa.
In February we released our maiden resource statement and have achieved much in a short space of time. Recently we completed a market cap at $7.5 million putting us in a good position. We’re focusing on rare earths and success for us is about good economics and timeline into production. Our highly experienced technical, engineering and legal team will take us on the journey from explorer to miner at Ngualla.
From a grade perspective, this deposit is very, very competitive and broadly speaking, our markets are digital technology, renewable energies, energy efficiency and clean energy. Currently we are producing around 120 tonnes per annum combined rare earths.
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