Peak Rare Earths gains most in nearly 14 years on mineral finds at Tanzania project

Peak Rare Earths

20/03/2024 24:52

** Shares of Australia's Peak Rare Earths  PEK.AX  rise as
much as 67.6% to A$0.31, marking their biggest intraday pct gain
since September 2010
    ** Stock hits its highest level since Jan. 18
    ** Rare-earth minerals co confirms extensive high-grade,
thick intercepts of fluorspar across Breccia zone in Ngualla
project, Tanzania
    ** Fluorspar used directly or indirectly to manufacture
products like aluminium, gasoline and steel, among others
    ** Says high-grade rare earth mineralisation and elevated
levels of niobium are also intercepted within Breccia zone
    ** About 1.6 mln shares change hands by 0050 GMT, vs the
30-day average volume of 357,600 shares
    ** Stock down 47.1% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))