Peak restructures Ngualla BSF financing

April 25, 2016

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Rare earths hopeful Peak Resources on Tuesday announced a restructured funding package to underpin the completion of a bankable feasibility study for its Ngualla project, in Tanzania.

The new arrangement would see Peak undertake a placement and rights issue to raise some A$7-million. Shareholder Appian has agreed to provide a loan of up to A$6-million should there be a shortfall in the rights issue.

Category: General