September Quarterly Activity Report
Perth, Oct 23, 2013 AEST (ABN Newswire) - Peak Resources Limited (
ASX:PEK) (PKRLY:OTCMKTS) announces the September Quarterly Activity Report for period ending 30 September, 2013, with the following highlights:
Solvent Extraction Pilot Plant, ANSTO
- The successful completion of the Solvent Extraction (SX) Pilot Plant program at ANSTO Minerals is a major milestone for the project, being the final step in the demonstration of the full metallurgical processing flow sheet
- Peak is one of a very few companies outside of China to have produced high purity separated products from a bulk sample of their projects mineralisation
- The ability to produce separated high purity rare earth oxide adds significant value to the project and allows access to wider markets
- Products are available for assessment by off take customers
- The Pilot Plant operation delivers important engineering, operating and cost data to feed into the Pre-Feasibility Study currently in progress
Rare Earth Prices
- Rare earth prices improved significantly over the Quarter, with Ngualla's main value drivers showing the most improvement. Ngualla's 'basket price' for 1kg of REO produced rose 31% over the period
- The majority (85%) of Ngualla's projected revenue is underpinned by high value and Critical rare earths including neodymium, praseodymium and europium
Pre-Feasibility Study
- The Pre-Feasibility Study (PFS) is on schedule for completion in the first Quarter 2014 and will include a revised economic assessment and maiden Reserve estimate for the Ngualla Project, which remains on track to achieve rare earth production in 2016.
Corporate
- The Company has received expressions of interest from several new potential funding partners for the development of the Ngualla Rare Earth Project and remains in advanced discussions with a number of these parties.
- Post Quarter end, a research and development (R&D) rebate of $1.39 million was received under the Federal Government's Research and Development Tax Incentive Scheme.
- The Company had $0.9 million cash on hand at 30 September 2013 (prior to and excluding the above rebate).
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PEK-653655.pdf
Contact
Peak Resources Limited
T: +61-8-9200-5360
F: +61-8-9226-3831
WWW: www.peakresources.com.au
| ||
|
