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Peak Rare Earths Limited ( (AU:PEK) ) has issued an update.
Peak Rare Earths Limited has announced that the Tanzanian Mining Commission has consented to its acquisition by Shenghe Resources. The proposed acquisition, which is structured as a scheme of arrangement, still requires several approvals, including from Peak’s shareholders, the Fair Competition Commission of Tanzania, and requisite Australian court approval. The Peak Independent Board Committee recommends shareholders vote in favor of the Scheme, provided no superior proposal emerges and an independent expert deems it in the best interest of shareholders not associated with Shenghe.
More about Peak Rare Earths Limited
Peak Rare Earths Limited operates in the mining industry, focusing on the extraction and development of rare earth elements. The company is primarily involved in the production of these critical minerals, which are essential for various high-tech applications and have significant strategic importance in the global market.
Average Trading Volume: 1,590,499
Technical Sentiment Signal: Buy
Current Market Cap: A$148.5M
For a thorough assessment of PEK stock, go to TipRanks’ Stock Analysis page.