Ann: Offtake Agreement Conditions Precedent Satisfied, page-3

Another milestone completed. When reading criticism of Peak I'm frankly astonished as progress in the last 15 months has been methodical and strategic. Finalisation of the offtake which underwrites revenues is critical for funding, completion of FEED and further cost reduction review, a material reduction in team size and day to day spend, exploration required to enhance project value, increasing License ( SML ) scale in Tanzania, correct decision on monetisation of Teesside are just a few examples. Against this backdrop has been a rare earths industry under global pressure with LYC, MP and Shenghe's shareprice getting crushed. Shareprices in these multi billion dollar companies are off 50% + through the cycle.

Criticisms of Peak have often been personally based and to me it only highlights the ignorance of those making them. Investors of substance evaluate facts and while the NdPr price is at a cyclical low point it's factually correct Ngualla is a future asset of immense value.

Forget the ignorant personal attacks and assess Peak in light of the current state of the global industry. They are doing better than most!!!