"The Placement strengthens Peak’s balance sheet and ensures that it is well-capitalised to commence early works, front-end engineering and design and finalise binding offtake arrangements and project financing discussions, which are progressing well." "The Placement has been well supported by Peak’s existing shareholders and will further introduce a range of new, high-quality institutional investors to the register. The support shown by institutions in this Placement is testament to the significant work undertaken by the company to further de-risk development and is further validation of the world-class nature of the Ngualla Project, which is one of the highest grade and most advanced undeveloped rare earth projects globally."
It seems the new, 'high quality institutional investors' are holding onto their stock, (with the exception of one poor fellow who unloaded a few mil into the end of year tax dump a week or so back) it seems to be consolidating a new base around here with steady higher highs and higher lows on gradually increasing volume. They say volume precedes price.
It would be interesting to see an updated top 20 to see which institutional investors have come on board recently.
Directors stumping up is encouraging also
Dr. Russell Scrimshaw committed to subscribe for 300,000 shares; and
Mr. Ian Chambers committed to subscribe for 315,000 shares.
(20min delay)