Tanzania East Africa Metals

Peak Resources has announced the appointments of Tony Pearson as Chair, and Bardin Davis as MD and CEO.

Pearson has been an independent non-executive Director of Peak since August 2018 and Acting Chair since September 2020.

Pearson’s executive career spans over 20 years in the metals and mining industry, where he spent significant time in mining finance roles in addition to working with Robert Friedland’s Ivanhoe Mines Group
as Vice President – Corporate Development for SouthGobi Resources.

Davis’ immediate focus will be to finalise the receipt of the Special Mining License (SML) over the Company’s 100% owned Ngualla rare earth deposit in Tanzania, and to oversee the negotiation of the framework agreement with the Tanzanian Government for the development of the Ngualla project on terms that will facilitate the assessment of project financing options.

Read more about the Ngualla rare earth project

Bardin Davis comments:

“This is an exciting time to be joining Peak. Ngualla is a world class
rare earths project that is closely aligned to thematics around decarbonisation, electrification of transport and rapid growth in renewable energy generation.

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“I look forward to working with the team in progressing the development of this project to deliver attractive returns to shareholders as well as multi-generational benefits to the people of Tanzania.”

Peak’s Chair, Tony Pearson, comments:

“We are delighted to have secured Bardin for this role. The opportunity for Peak and Tanzania to be a major player in the strategically critical global rare earth market is compelling, and together we are looking forward to working with all of our stakeholders to deliver on the benefits that the Ngualla project will bring to Tanzania over its mine life.

“Bardin’s experience and energy are well matched to deliver on this shared
vision for Peak and Tanzania, as is his sincerity to work with the Government of Tanzania and its people.”

Bardin will become a Director of the Company with immediate effect. His executive duties as MD will commence on completion of his notice period with his current employer.

It is anticipated that this will be in early January 2021. A summary of the key terms of the Bardin’s executive services agreement is set out as an Annexure. Until Bardin commences in his executive role, he will receive non-executive director fees from the non-executive director fee pool.