Australia's Peak Rare Earths jumps after saying Tanzania project could be signed this quarter

Peak Rare Earths

06/02/2023 02:42

** Shares of Peak Rare Earths Ltd  PEK.AX  rise as much as
19.5% to A$0.52 - on track for best day since Oct 18, 2022, if
gains hold
    ** Rare-earths minerals co says awaiting final approval from
Tanzania government for its Ngualla Rare Earth Project
    ** Says now expects to sign agreement this quarter after
Tanzanian minerals minister said they would soon have a signing
ceremony for the project
    ** Agreement covers concentrate off-take and strategic
co-operation in support of project development 
    ** PEK hits its highest level since Oct 25, 2021
    ** Stock had risen 1.2% this year, as of last close
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))