Ministry of Minerals Technical Committee on site at Ngualla. Credit: Peak Resources Ltd.
Appian Capital Advisory LLP announced Wednesday that it has substantially exited its position in Peak Rare Earths (ASX: PEK) and through a solely owned subsidiary, has sold its 19.9% interest to global rare earth group Shenghe Resources Holding Co.
The sale of Appian’s position was priced at A$0.99 per share, representing a substantial 24.5% premium to Peak’s shares pre-closing. As a leading rare earth major with a global operational footprint, Shenghe will be a technical and financial partner to Peak going forward.
