Peak Rare Earths

Peak Rare Earths Limited (ASX: PEK) is an Australian mining company focused on developing the Ngualla Rare Earth Project in Tanzania, one of the world’s highest-grade and most advanced rare earth deposits. The project is positioned to become a major supplier of neodymium and praseodymium (NdPr), critical elements for the global clean energy transition, particularly in electric vehicles (EVs), wind turbines, and high-tech applications.

With the Special Mining License (SML) granted and a fully funded development solution in place, Peak Rare Earths is progressing toward production with strong strategic backing. The project is being developed in partnership with Shenghe Resources Holding Co., Ltd, a leading global rare earths company, which is investing A$96 million into the project. Additionally, the Tanzanian government holds a 16% interest, ensuring regulatory support and stability.

Ngualla’s robust project economics, including low radionuclide levels, high-grade reserves, and long mine life, make it a globally significant asset. Peak Rare Earths is positioned to become a key supplier in the growing rare earths market, supporting global efforts toward sustainability and technological advancement.

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Peak Rare Earths presents a compelling investment opportunity with its Ngualla Project, a high-grade, long-life rare earth deposit that is set to play a crucial role in the global supply chain for critical minerals. The project’s fully funded status, combined with a binding offtake agreement ensuring 100% of concentrate sales, significantly reduces investment risk while enhancing long-term revenue potential.

With 16.2 ktpa of high-grade rare earth concentrate production planned, including 3.6 ktpa of NdPr, Peak Rare Earths is well-positioned to benefit from the increasing demand for rare earth materials in electric vehicles, renewable energy, and defense technologies. The project’s strategic location in Tanzania, a rapidly growing mining jurisdiction, further strengthens its investment appeal.

Peak Rare Earths also stands out due to its low capital intensity and existing infrastructure, which reduces upfront costs. The company’s partnership with Shenghe, a leading rare earth processor, provides both financial backing and technical expertise, ensuring a streamlined path to production.

As global markets push for secure, diversified rare earth supply chains, Peak Rare Earths is poised to deliver strong long-term value, offering exposure to a de-risked, high-grade, and fully funded project with a clear roadmap to production.

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Peak Rare Earths Limited is led by a highly experienced management team with deep expertise in mining, project development, finance, and global rare earth markets. The team is focused on delivering the Ngualla Rare Earth Project as a world-class, fully integrated rare earth supply solution.

Bardin Davis – Chief Executive Officer (CEO)

Bardin has over 25 years of investment banking and corporate experience in the mining and energy sectors. He commenced his career with diversified mining group, North Limited, before moving into investment banking and has also spent time working in renewable energy.

Philip Rundell - Company Secretary & Chief Financial Officer (CFO)

Philip is a former Partner at Coopers & Lybrand (now PriceWatehouseCoopers) and a Director at Ferrier Hodgson. He is now a sole practitioner Chartered Accountant specialising in providing company secretarial, compliance, accounting and reconstruction services.

Additionally, the company is backed by a Board of Directors and senior executives with significant expertise in resource development, ESG leadership, and corporate growth strategies, ensuring that Peak Rare Earths is well-positioned to become a major supplier of critical minerals.

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Peak Rare Earths is executing an aggressive growth strategy focused on rapidly advancing the Ngualla Rare Earth Project to production. Central to this strategy is the fully funded development model, enabled by a strategic partnership with Shenghe Resources and the strong support of the Tanzanian government. The project is currently progressing through key stages—completing feasibility studies, technical optimizations, and permitting—with a targeted Final Investment Decision by December 2024.

The company is leveraging its expanded Special Mining License area, now covering approximately 51 km², to unlock additional exploration potential in both the Northern and Breccia zones. This expansion, combined with cost-optimized engineering solutions and efficient operational planning, positions Peak Rare Earths as a low capital intensity developer in a high-demand market. As global demand for rare earth elements—vital for electric vehicles, renewable energy, and high-tech applications—continues to rise, Peak Rare Earths is poised to deliver significant long-term value through its strategic execution, robust technical foundations, and sustainable growth initiatives.

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Peak Rare Earths Limited is in a strong financial position, with a fully funded development plan for the Ngualla Rare Earth Project. The company benefits from a strategic A$96 million investment from Shenghe Resources, eliminating the need for Peak to contribute additional equity for project development.

Key financial highlights:

• Market Capitalization: A$55.9 million (as of September 2024).
• Cash Reserves: A$7.6 million (as of June 30, 2024).
• Binding Offtake Agreement: 100% of rare earth concentrate secured under a 7-year take-or-pay contract, ensuring stable future revenues.
• Debt Facility: Shenghe to arrange project-level debt funding, further strengthening financial stability.

By leveraging its low-cost, high-grade deposit and fully funded status, Peak Rare Earths is positioned to become a profitable and strategically significant supplier in the global rare earths sector.

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Peak Rare Earths Limited is on track to becoming a major global supplier of rare earth materials, with its flagship Ngualla Rare Earth Project positioned as one of the world’s highest-grade, undeveloped rare earth deposits. With a fully funded development plan, a binding offtake agreement, and strong backing from Shenghe Resources and the Tanzanian government, Peak is uniquely positioned to capitalize on the growing demand for neodymium and praseodymium (NdPr)—critical components for electric vehicles, wind energy, and advanced technologies.

The company’s de-risked project, cost-efficient operations, and strategic partnerships provide a clear path to production, ensuring long-term value creation for investors, stakeholders, and the local Tanzanian economy. By prioritizing sustainability, community engagement, and operational excellence, Peak Rare Earths is committed to responsible mining practices that align with global ESG standards.

As the world shifts toward a clean energy future, secure and diversified rare earth supply chains will be more critical than ever. With a high-grade, long-life asset in a top-tier mining jurisdiction, Peak Rare Earths is poised to play a key role in the global rare earths market while delivering strong financial returns and sustainable growth.

For investors looking to gain exposure to the high-potential rare earths sector, Peak Rare Earths represents a compelling, de-risked, and strategically positioned opportunity with a clear roadmap to production and long-term success.

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