Australia's Peak Rare Earths jumps most in 2 weeks on funding interest for Ngualla project

Peak Rare Earths

29/04/2024 01:49

** Shares of Peak Rare Earths Ltd  PEK.AX  jump as much as
10.6% to A$0.26, their biggest intraday pct gain since April 12 
    ** Stock hits its highest level since April 22 
    ** The rare-earths miner says it received indicative,
non-binding, expressions of interest for Ngualla rare-earths
project located in Tanzania
    ** Co says aggregate funding appetite for Ngualla project is
currently at $176.6 mln 
    ** Estimates upfront capital cost for Ngualla project of
$287 mln 
    ** Stock has fallen 32.9% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))