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Arafura Resources climbing valuation provides capital raising opportunity

Published: 08:43 20 Oct 2017 AEDT

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The company's shares are in pre-open

Arafura Resources Ltd (ASX:ARU) has recently been benefiting from a rising rare earth price, as the company remains focussed on the wholly-owned Nolans Neodymium Praseodymium project in the Northern Territory.

Arafura shares last traded at $0.135, more the double the mid $0.05 range from June this year.

The increasing valuation and progress at Nolans has provided the company with the opportunity to initiate a capital raising program, and the ASX has granted a trading halt to complete.

The halt will remain in place until the opening of trade on Tuesday 24th October 2017, or earlier if an announcement is made to the market.

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