Peak Resources' (ASX: PEK) is preparing to divulge results from a Pre-Feasibility Study on the Ngualla Rare Earth Project in Tanzania.
Ngualla hosts a globally significant resource on the basis of grade and tonnes, with thick zones of high grade >5% REO at surface. Importantly the resource is well defined, with 85% in the Measured JORC category.
The ASX has granted the company a trading halt this morning to prepare, with its shares placed in pre-open.
It is expected that the study will include a revised economic assessment that is likely to reflect the benefit that rising prices for the key high value rare earths will have on projected annual revenue.
A maiden reserve is also set to follow.
The halt will remain in place until the opening or trade on Wednesday 19th March, or earlier if an announcement is made to the market.
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