Peak Resources (ASX: PEK) aims to develop into a medium sized mining house based on exploration and development.
The company holds an extensive portfolio with the main focus the Ngualla Rare Earth Project in southern Tanzania. Additionally, Peak holds a number of gold projects comprising a mix of brownfield, greenfield and advanced exploration prospects within Tanzania and Western Australia.
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Listed on the Australian Stock Exchange (ASX:PEK) in November 2006 and based in Perth, Western Australia, Peak Resources Limited is fast tracking the development of its 100% owned Ngualla Rare Earth Project in Tanzania. Ngualla is a recent discovery and is the highest grade of the large undeveloped rare earth deposits. Peak is currently developing the project to become a low cost long term rare earth producer.
Peak’s goal is to generate shareholder value through:
- Development of the high-grade, low uranium and thorium Ngualla Rare Earth discovery into production
- Exploring for niobium-tantalum and phosphate at Ngualla to generate a pipeline of additional commodities
- Discovery of new gold deposits within its prospective portfolio of exploration projects in the highly prospective Lake Victoria Goldfields area of Tanzania
- Aggressive new project acquisition programmes in East Africa
- Peak’s head office is located in Perth, Western Australia with an in-country office in Dar es Salaam, Tanzania. Peak also holds a number of gold projects in the highly prospective Lake Victoria Goldfields area of Tanzania.
Ngualla Rare Earth Project
The Ngualla Rare Earth Project in Tanzania is a recent discovery and is the highest grade of the large undeveloped rare earth deposits. Fundamental geological aspects offer distinct advantages for development over other rare earth projects. These include the large size of the deposit, outcropping, high grade mineralisation amenable to open cut mining with low strip ratios, favourable mineralogy amenable to a relatively simple, low cost processing route and extremely low uranium and thorium levels.
Located in southern Tanzania 147 kilometres from the city of Mbeya on the edge of the East African Rift Valley, Peak’s Ngualla Project is centred on the Ngualla Carbonatite. The name 'Ngualla' comes from the Swahili word for 'bald head', which reflects the appearance of the hill, - mostly bare land in which there is no habitation, agriculture and very little wild life.
Tanzania is politically stable and has an established mining culture with government incentives and guarantees. It is the fourth large gold producer in Africa. Existing transport infrastructure together with a low tonnage high value product will enable cost effective transport from Ngualla to the deep water pot in Dar es Salaam.
Click Here to learn more about Ngualla Rare Earth Project
Lake Victoria Goldfields
Tanzania is the third largest gold producer in Africa, with production mainly from the prolific Lake Victoria Gold Fields Region in the north of the country.
Peak maintains an exploration base and dedicated gold exploration team at Mwanza on the shores of Lake Victoria.
The Company’s strategy is to add value to the portfolio of gold projects it holds through a series of joint ventures and option arrangements through:
1. early stage exploration of prospective areas and
2. the acquisition of additional underexplored ground in this highly prospective region, and elsewhere in Tanzania.
Major gold mines of the Lake Victoria Gold Fields, Northern Tanzania
Tanzania is well established mining jurisdiction, being the third largest gold producer in Africa. Gold production is predominantly from the prolific Lake Victoria Gold Fields Region in the north of the country.
Tanzania, created by the union of Tanganyika and Zanzibar in 1997, is located in East Africa and borders Mozambique, Malawi and Zambia. The country is regarded as one of the most politically stable in Africa. It has a population of over 40 million with 80% living in rural areas. The legislative capital is the city of Dodoma, while the coastal city of Dar es Salaam serves as the main commercial capital and seaport.
The economy reflects the ongoing political stability of the country and has progressed steadily since 1995 with agriculture, tourism and mining all performing well. Mining is the fastest growing sector in Tanzania in terms of contribution to GDP and exports. This growth was assisted by the World Bank and the introduction of investor-friendly mining laws that were introduced in 1998. The Mining Act of 1998, subsequently amended in 2010, guarantees investor’s security of tenure, provides transparency in issuance and administration of mineral rights.
The first of the large mining projects in Tanzania began producing gold approximately ten years ago. One of the key drivers behind the expansion of the Tanzanian gold mining sector is the prospective Greenstone Belts and in particular, the Lake Victoria Goldfields. This has led to a number of Australian and international corporations being attracted to the region including African Barrick, AngloGold Ashanti Limited and Resolute Mining Limited, all of whom have a significant presence in the country.
Tanzania offers a well-balanced and competitive package of fiscal incentives in comparison with other African countries.
Tanzania is a signatory of several multilateral and bilateral agreements on protection and promotion of foreign investment. Among other international agreements and membership, Tanzania is a member of Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of Investment Disputes (ICSID).
Alastair Hunter - Executive Chairman
Mr Hunter has more than 38 years experience in the management of resource projects in Australia, Africa and North America. He has played a significant role in a number of gold and base metals discoveries. Mr Hunter was formerly a director of Peninsular Minerals NL, and a former managing director of Matlock Mining NL and Anglo Resources NL.
Mr Hunter is responsible for providing strategic advice to the executive on the Group's Tanzania exploration projects.
Dave Hammond - Technical Director
MSc in Mineral Exploration, DIC, BSc (Hons) Geology, MAusIMM
With an MSc in Mineral Exploration from the Royal School of Mines, London, Dave Hammond is a geologist with over 23 years of technical and management experience in Africa and Australia, in a range of commodities and geological deposit styles. Mr. Hammond was previously Exploration Manager with De Grey Mining Limited, working on projects in the Pilbara and new project acquisitions globally.
His previous experience also includes Exploration Manager for Sons of Gwalia in the NE Goldfields of Western Australia and Project Geologist with Billiton in South Africa and Zambia.
Jonathan Murray - Non-Executive Director
Bachelor Laws and Commerce
Mr. Murray is a partner at independent corporate law firm Steinpreis Paganin, based in Perth, Western Australia. He specializes in equity capital raisings, all forms of acquisitions and divestments, governance and corporate compliance.
Mr. Murray graduated from Murdoch University in 1996 with a Bachelor of Law and Commerce (majoring in accounting). He is also a member of FINSIA (formerly the Securities Institute of Australia).
Mr. Murray is currently a non-executive director of Hannans Reward NL, Laguna Resources NL and Kalgoorlie Mining Company Limited.
Jeff Dawkins - Chief Financial Officer
Mr Dawkins is an Australian Chartered Accountant with more than 20 years’ experience in professional and corporate roles in Perth, London and Singapore. Mr Dawkins holds a Bachelor of Business Degree from Curtin University and a Graduate Diploma in Applied Finance and Investment. He has a strong background in mining and has worked with various mining Companies involved with gold, copper, rare earth and iron ore.
His previous appointment was as Chief Financial Officer of Archipelago Resources Plc (“Archipelago”) from November 2006 until February 2012 during which time Archipelago successfully developed and put into production the Company’s flagship asset being the 150koz per annum Toka Tindung Gold Project (“Toka Project”) in Indonesia. Whilst at Archipelago, Mr. Dawkins was responsible for all financial, corporate and administrative matters and in particular was responsible for developing and maintaining relationships with Archipelago’s bankers and secured US$80m in debt funding required to complete the construction of Toka Project. Mr. Dawkins also instigated and managed a review of Archipelago’s corporate and tax structure which resulted in implementing a redesign of the corporate structure and the relocation of the Group’s head office from Perth to Singapore which delivered significant financial and operational benefits.
Mr. Dawkins has also worked for Deloitte and has held senior finance roles with listed resource companies including Marengo Mining Ltd, Lynas Corporation, Schlumberger and Weatherford.
Lucas Stanfield - Chief Development Officer
Mr Stanfield is a Mining Engineer with over 15 years' experience in mining and project management in Australia, Africa, and the United Kingdom. He graduated with a Bachelor of Engineering (mining) from the University of New South Wales in 1998 before commencing studies for a diploma in Law at the Legal Practioners Admissions Board at Sydney University.
Mr Stanfield's early Australian experience included new project developments and expansions in the mining industry which lead to the move to the United Kingdom where his skills in project management were refined while working on large scale infrastructure and process manufacturing projects for the London Underground, AMEC, and Bovis Lend Lease.
Returning to Australia in 2010 Mr Stanfield took a principal project management role in the Mining and Resources division at Emerson Stewart Consulting. In this role he delivered a number of Scoping and Feasibility studies as well as developed expansion strategies, long-term business plans and operating productivity studies focussed on mining industry.
Head Office Address
Level 2, 46 Ord Street
Western Australia 6005
Telephone +61 8 9200 5360
Facsimile +61 8 9226 3831
PO Box 603
Western Australia 6872
11th Floor, Golden Jubilee Towers
PO Box 80512
Dar es Salaam, Tanzania
Link Market Services Limited
680 George Street
New South Wales 2000
Stock Exchange Listing
Australian Securities Exchange Limited
Home Exchange: Perth Western Australia
Deloitte Touche Tohmatsu
240 St Georges Terrace
Perth Western Australia 6000
Steinepreis Paganin (Australia)
AKO Law (Tanzania)