Ngualla Funding Update
Perth, July 18, 2013 AEST (ABN Newswire) - Peak Resources Limited (
ASX:PEK) (OTCQX:PKRLY) wishes to advise the market that it has terminated negotiations with the potential cornerstone investor as per the company's announcement on 23rd April 2013.
This announcement outlined the Company's entry into a non-binding Memorandum of Understanding (MoU) with a prospective funding partner. Negotiations to complete a binding formal agreement over the past month have from Peaks perspective shown insufficient progress. The prospective partner has failed to meet previously agreed deadlines and as a consequence the Company has elected to terminate discussions as of today, 18th July 2013.
The Company continues to hold discussions with other potential cornerstone investors and further details will be released as they become available.
About Peak Resources Limited
Peak Resources Limited (ASX:PEK) is focused on delivering our high-grade Ngualla rare earth project via a sequenced development approach to enable low carbon technologies to power the green transformation.
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