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NewPeak Metals secures AU$1.14 million from strategic share sale to fund exploration.

Jul 09, 2025

NewPeak Metals Ltd (ASX: NPM) has successfully raised AU$1.14 million by divesting a portion of its stake in Lakes Blue Energy NL (ASX: LKO), capitalising on Lakes' recent ASX trading resumption and positive momentum. The sale involved 1,649,383 shares across two transactions on 4 and 8 July 2025, strengthening NewPeak’s balance sheet and providing funding for upcoming exploration programs.

Despite the partial divestment, NewPeak retains an 11.89% shareholding in Lakes and remains optimistic about its future, particularly the Wombat Gas Field, which boasts a certified 2C recoverable resource of 329Bcf. This asset could play a key role in addressing East Coast gas supply concerns. NewPeak has no current plans to further reduce its holding and will continue monitoring Lakes’ market position. The strategic capital injection positions NewPeak to advance its exploration initiatives while maintaining exposure to Lakes’ gas development potential.

 

 

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