Final Investment Decision extended yet again, now due by the end of the March Quarter 2025
Will that be the last extension? if not another round of funding will be required from the market.
As part of a fully funded solution, Shenghe is to invest ~A$96m to subscribe for a 50% interest
in Peak’s wholly owned subsidiary, Ngualla Group UK Limited (NGUK), which holds an 84% interest in Mamba Minerals Corporation Limited (Mamba Minerals) and an effective 84% interest in the Ngualla Project
Shenghe to have a 55% share of NGUK net earnings or losses after tax for the first 5 years
following the commencement of commercial production
So Shenghe will own 42% of the Ngualla Project and take 55% of the profit for the first five years. (Their 42% holding continuing until such time as they decide to unload).
Is this correct?
So a waiting game till the end of March 2025 to see If Shenghe decide to fund development. It's very likely they will in my opinion but I guess they are still under no obligation at this stage.
PEK Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
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