Peak provides great exposure to the Green Energy and Electric vehicle (EV) thematic with high leverage to the Neodymium and Praseodymium (NdPr) price. NdPr are core components in the high growth permanent magnet metal market for their use in electric motors and other new technology applications. Peak is developing the Ngualla Rare Earth Project in Tanzania, one of the largest and highest grade NdPr projects worldwide, together with a refinery in the UK. Peak is set to become one of the very few stable and secure suppliers of NdPr Oxide operating outside of China.
Rocky Smith, Chief Executive Office
-BS Chemistry, Biology, Physics
-Over 35 years operational and senior management experience in mineral processing and the chemical engineering sector
-Previous MD of MolyCorp’s Mountain Pass Rare Earth Project
-Rare earth processing is relatively complex, consisting of multiple unit operations to effect separation of rare earths into individual products. As the supply of rare earths is dominated by China, the intellectual property and operating know-how are contained within the country, as such this knowledge is relatively rare in the western world. Peak’s CEO Rocky Smith was the Managing Director at Molycorp’s Mountain Pass Rare Earth Mine in California, USA, and brings first-hand practical, specialist and technical expertise to the Company.
What is your rationale for attending 121 Mining Investment?
Institutional, strategic and high net worth investors for on-market support and equity and project finance raise participation.
What recent news would you like to highlight to investors attending?
26 November 2019 – US (OPIC) shows interest in financing Ngualla Project
12 November 2019 – Peak completes 100% ownership of the Ngualla Project
What are your key goals for the next 3, 6 and 12 months?
Secure final permit – Mining Licence, all other permitting is in place
Advance discussion to binding off-take to underpin Project Finance support
Secure Project Development Finance
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
-Trying to secure financing for the construction of Teesside Rare Earth Refinery (UK) and the development of the Ngualla Project (Tanzania)
-Securing off take with “Outside of China” consumers
-Potential supplier of NdPr Oxide outside of China (supply risk)
What do you think makes your company such a compelling investment?
Ngualla is one of the largest, highest grade rare-earth deposits in the world and has favorable metallurgy which enables a low-cost process creating a competitive advantage. Returns highly leveraged to the EV revolution and green technologies.