Peak Resources (ASX:PEK) has entered a trading halt to prepare for a capital raising.
The company entered into a non-binding Memorandum of Understanding in April that would see the Ngualla Rare Earth project fully funded through to production.
Peak’s executive chairman, Alastair Hunter, said at the time of the announcement “this MOU is the result of several months of discussions and negotiations”.
Hunter said the company was moving forward with the completion of the formal agreement in May 2013.
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