Peak Resources
Full Peak Resources profile here
Peak Resources (ASX: PEK) aims to develop into a medium sized mining house based on exploration and development.
The company holds an extensive portfolio with the main focus the Ngualla Rare Earth Project in southern Tanzania. Additionally, Peak holds a number of gold projects comprising a mix of brownfield, greenfield and advanced exploration prospects within Tanzania and Western Australia.
Peak Resources in trading halt pending acquisition announcement
Wednesday, August 24, 2011
Peak Resources (ASX: PEK) has been granted a trading halt by the ASX pending the release of information about a material acquisition.
The company expects to make an announcement on or before the commencement of trading on Friday 26th August, 2011.
Earlier in the month Peak further revealed the vast potential of the Ngualla Project in southern Tanzania by drilling ten reverse circulation holes in the Southern Rare Earth Zone, extending the rare earth mineralisation by 250 metres.
Peak would be pleased with the progress at Ngualla since the release of assay results from the discovery drill holes at the end of September 2010.
Ngualla has potential to be one of the largest and better grade new rare earth discoveries in recent years.
Peak has rights to earn 80% of the project, which also has the potential to host large, near surface deposits of niobium – tantalum and phosphate.
A maiden JORC Resource is forecast by the end of the March quarter 2012.
No investment advice
The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
