Chenguang Rare Earths to accelerate Ngualla project via acquisition

Ganzhou Chenguang Rare Earths New Material Co.Asian Metal Copyright Praseodymium and neodymium oxides account for approximately 21.Asian Metal Copyright, Ltd.Asian Metal Copyright15%, equivalent to 4.Asian Metal Copyright, a wholly-owned subsidiary of Shenghe Resources, proposes to acquire a 100% equity interest in Peak Rare Earths Limited through a "Scheme Implementation Deed" and related agreement attachments, for a total consideration of AUD158 million, as the company moves to accelerate the development of Ngualla Rare Earth Project in Tanzania.

Peak Rare Earths' core asset is the Ngualla Project, located in southern Tanzania. At a 1% cutoff grade, the JORC (2012)-compliant resource estimate for the project is 214 million tonnes with an average grade of 2.Asian Metal Copyright .Asian Metal Copyright15%, equivalent to 4.Asian Metal Copyright5 million tonnes with an average grade of 4.Asian Metal Copyright61 million tonnes of rare earth oxides (REO).Asian Metal Copyright26% of the total REO content.Asian Metal Copyright The project has a proven rare earth reserve of 18.Asian Metal Copyright Praseodymium and neodymium oxides account for approximately 21.Asian Metal Copyright5 million tonnes with an average grade of 4.Asian Metal Copyright61 million tonnes of rare earth oxides REO.Asian Metal Copyright8%, equivalent to 887,000 tonnes of REO.Asian Metal Copyright, a wholly-owned subsidiary of Shenghe Resources, proposes to acquire a 100% equity interest in Peak Rare Earths Limited through a "Scheme Implementation Deed" and related agreement attachments, for a total consideration of AUD158 million, as the company moves to accelerate the development of Ngualla Rare Earth Project in Tanzania.Asian Metal Copyright Praseodymium and neodymium oxides account for approximately 21.Asian Metal Copyright15%, equivalent to 4.Asian Metal Copyright26% of the total REO content.Asian Metal Copyright .Asian Metal Copyright The project has already obtained a mining license.

.Asian Metal Copyright, a wholly-owned subsidiary of Shenghe Resources, proposes to acquire a 100% equity interest in Peak Rare Earths Limited through a "Scheme Implementation Deed" and related agreement attachments, for a total consideration of AUD158 million, as the company moves to accelerate the development of Ngualla Rare Earth Project in TanzaniaAsian Metal Copyright