Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Peak Resources Appoints Financial Advisors For Ngualla

Peak Resources (ASX: PEK, OTCQX: PKRLY) has updated the market in relation to sourcing the long term funding for the development of its Ngualla Rare Earth Project.

Peak has appointed Sydney based Blue Ocean Equities as its Australian corporate advisor.

It is also in direct discussions with several interested parties and institutions in North America, Europe and Hong Kong regarding potential strategic partnerships, cornerstone investments and off-take agreements.

Ngualla currently boasts the fifth largest rare earth resource, and the highest grade of the seven largest deposits outside of China.

Ngualla hosts a resource of 170 million tonnes at 2.24% REO. The total resource includes a higher grade, near surface zone of 40 million tonnes at 4.07% REO for 1.6 million tonnes of contained REO.

Asian agreements

Peak has entered into agreements with two groups in Asia who are mandated to assist in identifying and securing strategic partners to assist in funding the Ngualla Rare Earth Project through to production.

In the Chinese region CITIC Securities has been appointed on an exclusive basis to provide corporate advisory services to the company for strategic partnerships and off-take agreements.

CITIC Securities is the leading Chinese full service investment bank in China and has been active in advising Australian businesses in cross border investment and M&A involving Chinese companies in recent years.

Peak said that the second agreement in Asia covers South Korea and Japan and is mandated to Moser Capital Ltd which is headed up by Kent Moser. Moser has 28 years corporate and financial experience throughout this region.

Discussions have also commenced and are continuing with a number of Korean groups that have shown a strong interest in the Project and we expect to be entering into substantive conversations with Japanese strategics over the next month.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.