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Peak Resources Appoints New Chief Financial Officer

Peak Resources (ASX: PEK) has appointed former Archipelago Resources (LON:AR) chief financial officer Jeff Dawkins as its chief financial officer and company secretary.

He joins the company at a crucial stage in the development of its Ngualla Rare Earth Project in southern Tanzania following the completion of metallurgical work that demonstrated 'Proof of Concept' with a simple sulphuric acid leaching process.

Dawkins has more than 20 years of experience in professional and corporate roles in Perth, London and Singapore with a strong background in mining.

He was chief financial officer of Archipelago from November 2006 until February 2012 during which time Archipelago successfully developed and put into production its Toka Tindung Gold Project in Indonesia.

Dawkins also instigated and managed a review of Archipelago's corporate and tax structure which resulted in implementing a redesign of the corporate structure and the relocation of the Group's head office from Perth to Singapore which delivered significant financial and operational benefits.

He has worked for Deloitte and has held senior finance roles with listed resource companies including Marengo Mining(ASX:MGO), Lynas Corporation (ASX: LYC), Schlumberger and Weatherford.

"The capacity and acumen of Mr Dawkins is exactly what Peak needs as the project nears the completion of the Ngualla Scoping Study, with the engagement of strategic partners and off take customers and the development of the business for production in early 2016" Peak managing director Richard Beazley said.

Peak is currently undertaking a Scoping Study on the Ngualla Rare Earth Project in Tanzania, which remains on budget and on track for completion in December 2012.

The Study will provide a keenly awaited preliminary economic assessment of the rare earth project, where recent reverse circulation drilling has returned results including 42 metres at 7.86% Rare Earth Oxide from 48 metres.

Ngualla already hosts a very significant resource of 170 million tonnes at 2.24% of rare earth oxides for 3.8 million tonnes of contained REO. Within this resource there is a highly weathered and near surface zone estimated at 40 million tonnes at 4.07% REO for 1.6 million tonnes of contained REO.

Importantly - over half of the in-ground value at Ngualla comprises the Critical Rare Earths of Neodymium, Dysprosium, Europium, Terbium and Yttrium.

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