Proactiveinvestors Australia Arafura Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Arafura Resources Ltd RSS feed en Thu, 25 Apr 2019 16:28:48 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Arafura Resources welcomes partner's first RC drilling at Bonya Tungsten Project ]]> https://www.proactiveinvestors.com.au/companies/news/218639/arafura-resources-welcomes-partner-s-first-rc-drilling-at-bonya-tungsten-project-218639.html Arafura Resources Limited (ASX:ARU) welcomes the first reverse circulation (RC) drilling program by Thor Mining PLC (ASX:THR) at Bonya Tungsten Project in the Northern Territory.

The project is a joint venture with Thor Mining and both parties contribute to the cost of the program in proportion to their project entity with Arafura holding 60%.

Targets scheduled for drill testing include the Samarkand, Jericho, White Violet and Tashkent deposits of about 2,500 metres with each deposit containing outcropping of tungsten at surface ensuring drilling is into or below known mineralisation.

READ: Arafura raises $3 million in placement for Nolans Nd-Pr Project

Thor executive chairman Mick Billing said: “We are very hopeful of positive results from our first drilling and costeaning program on the Bonya tungsten deposits.

“The 13 outcropping tungsten deposits at Bonya, several of which have historical mine workings, have the potential to add considerably to the life, scale and economic outcomes of the company’s flagship Molyhil project nearby.

“We hope to be able to provide regular updates of progress including provisional XRF analysis during the program.

“Despite the licence area being part of a known tungsten ‘province’ it has had no tungsten drilling since the 1970s and we are very excited at the commencement of this program and the potential it brings.”

READ: Arafura has capital raising news imminent and is in a trading halt

The program will comprise 2,500 metres of RC drilling and 200 metres of trench sampling across each of the Marrakesh and Tashkent deposits.

The Jericho deposit, in particular, has been mined historically with a surface stockpile estimated at several hundred tonnes of scheelite ore at surface adjacent to the deposit.

It is expected that the program will be completed within two weeks with progressive XRF results followed by laboratory assay results after a further four weeks.

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Tue, 16 Apr 2019 15:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218639/arafura-resources-welcomes-partner-s-first-rc-drilling-at-bonya-tungsten-project-218639.html
<![CDATA[News - Arafura Resources raises $3 million in placement for Nolans Nd-Pr Project ]]> https://www.proactiveinvestors.com.au/companies/news/218628/arafura-resources-raises-3-million-in-placement-for-nolans-nd-pr-project-218628.html Arafura Resources Limited (ASX:ARU) has completed a $3 million share placement to Australian and global institutions as well as sophisticated investors at an issue price of 5 cents per share and will issue 60 million new fully paid ordinary shares.

Funds from the placement will be used to advance the Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory and for general working capital.

"Working towards project commitment"

Arafura managing director Gavin Lockyer said: “Having recently confirmed the technical and economic viability of the Nolans project through the definitive feasibility study, together with the earlier obtained Territory and Commonwealth approvals, the company is now working towards project commitment.

“Several key work streams are now in fully swing, which include the continued negotiation of the mining agreement with the Native Title holders, the final regulatory condition prior to the granting of the initial 25-year term mineral leases by the Northern Territory government and interrelated programs to secure offtake for final products and fund project capital requirements.

“In the second half of this year, we plan to commence execution readiness including the tendering of the engineering and construction contracts for the project.

“These project development activities are critical as they will enable the company to efficiently transition to final engineering design and construction once project funding has been secured.”

Patersons Securities Limited acted as lead manager and bookrunner to the placement.

READ: Arafura Resources updates on rare earth offtake agreements

The company is also making solid progress in marketing its other rare earth products and its phosphoric acid product to fertiliser companies in India.

The table below summarises Arafura’s product offtake strategy and the status of its negotiations.

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Tue, 16 Apr 2019 11:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218628/arafura-resources-raises-3-million-in-placement-for-nolans-nd-pr-project-218628.html
<![CDATA[News - Arafura Resources has capital raising news imminent and is in a trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/218462/arafura-resources-has-capital-raising-news-imminent-and-is-in-a-trading-halt-218462.html Arafura Resources Limited (ASX:ARU) has an announcement pending regarding a proposed capital raising that is material to the company and has been granted a trading halt by the ASX

The halt will remain in place until the company releases an announcement in relation or until the start of trading on Tuesday, April 16, 2019, whichever occurs earliest.

Shares last traded at 7.2 cents.

READ: Arafura Resources updates on rare earth offtake agreements

Arafura has signed two non-binding offtake memoranda of understanding (MoUs) for rare earth products from the flagship Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

The company is focused on customers that are looking to reduce their Chinese NdPr supply risk given China is such a dominant supplier in the global market.

READ: Arafura Resources receives clearance to drill Bonya tungsten

Drilling is set to begin at the company’s Bonya Tungsten Project in the Northern Territory this month with a reverse circulation program of around 2,500 metres scheduled for each of the Samarkand, Jericho, White Violet and Taskent deposits.

Each deposit has outcropping tungsten at surface, ensuring the drilling is into or below previously known mineralisation.

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Fri, 12 Apr 2019 13:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218462/arafura-resources-has-capital-raising-news-imminent-and-is-in-a-trading-halt-218462.html
<![CDATA[News - Arafura Resources updates on rare earth offtake agreements ]]> https://www.proactiveinvestors.com.au/companies/news/217466/arafura-resources-updates-on-rare-earth-offtake-agreements-217466.html Arafura Resources Ltd (ASX:ARU) continues to progress towards finalising offtake agreements for rare earths from its 100%-owned Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

Notably, the release of the definitive feasibility study (DFS) for the project in February 2019 has been a catalyst for engagement with potential offtake and financing partners.

Negotiations during February and March centred on product offtake have been a key focus for the company’s executive team in support of efforts to secure finance for the project.

Arafura is targeting customers that includes those looking to reduce their Chinese NdPr supply risk given they are such a dominant supplier in the global market.

READ: Arafura Resources Nolans NdPr project assessed by NAIF ahead of investment decision

Arafura noted that recent engagement with participants at various points in the NdPr supply chain in Japan, South Korea, China and Europe has been very encouraging.

Talks have been underpinned by rising demand-side pressure for NdFeB magnets in applications that will enable the widespread adoption of e-mobility, clean energy and factory automation.

The company is also making solid progress in marketing its other rare earth products, and its phosphoric acid product to fertiliser companies in India.

The table and graphic below summarise Arafura’s product offtake strategy and the status of its negotiations.

Proactive caught up with Arafura in late February 2019 ahead of its planned meeting with the U.S. manufacturing association in D.C. and potential off-take partners.

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Fri, 29 Mar 2019 08:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217466/arafura-resources-updates-on-rare-earth-offtake-agreements-217466.html
<![CDATA[News - Arafura Resources receives clearance to drill Bonya tungsten ]]> https://www.proactiveinvestors.com.au/companies/news/217170/arafura-resources-receives-clearance-to-drill-bonya-tungsten-217170.html Arafura Resources Ltd (ASX:ARU) is set to commence drilling early April at its 60% owned Bonya tungsten project in the Northern Territory.

The reverse circulation (RC) drilling program of around 2,500 metres is scheduled for each of Samarkand, Jericho, White Violet, and Tashkent deposits.

Notably, each deposit has outcropping tungsten at surface, ensuring the drilling is into, or below, previously known mineralisation.

Further updates are expected on drilling progress, preliminary on-site XRF analysis, followed by formal laboratory assays.

READ: Arafura Resources Nolans NdPr project assessed by NAIF ahead of investment decision

Recently at Arafura’s flagship Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory, the federal government revealed it was assessing the project for possible investment.

The Federal Government’s Northern Australia Infrastructure Facility (NAIF) has completed a strategic assessment.

It will now transition the process through a due diligence assessment, which is the final stage in the assessment process before it makes an investment decision.

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Tue, 26 Mar 2019 11:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217170/arafura-resources-receives-clearance-to-drill-bonya-tungsten-217170.html
<![CDATA[News - Arafura Resources Nolans NdPr project assessed by NAIF ahead of investment decision ]]> https://www.proactiveinvestors.com.au/companies/news/215361/arafura-resources-nolans-ndpr-project-assessed-by-naif-ahead-of-investment-decision-215361.html Arafura Resources Limited (ASX:ARU) has revealed the Federal Government’s Northern Australia Infrastructure Facility (NAIF) has completed a strategic assessment of the company’s Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

The Australian Government agency will now transition the process through a due diligence assessment, which is the final stage in the assessment process before it makes an investment decision.

READ: Arafura Resources appoints experienced executive Mark Southey as chairman

NAIF provides Australian entities operating in northern Australia with access to up to $5 billion of debt finance, which may be on concessional terms, to encourage infrastructure and economic development.

Nolans project in northern Australia is only 90 minutes north of the key NT city of Alice Springs, along the Stuart Highway.

The project’s transportation corridor, from Nolans through Alice and beyond to Darwin port, is in the government’s statutorily-defined northern Australia area under the federal Northern Australia Infrastructure Facility Act 2016.

Arafura reported today it would start developing a comprehensive investment proposal for NAIF’s DD process, which it expects will involve the agency assessing Nolans’ offtake and project potential and credit risk, along with an environmental and social analysis.

Arafura managing director Gavin Lockyer said today: “Arafura welcomes the decision from NAIF to progress the Nolans NdPr Project to due diligence.

“This decision comes on the back of some significant project development milestones including the recent release of the positive results from the Nolans Definitive Feasibility Study (DFS).

Lockyer highlighted the importance of credit risk assessments to funding the project.

He said: “Export credit agencies (ECAs) are likely to be central to our project funding strategy and the decision by NAIF to progress to due diligence is an important consideration for the company’s ongoing engagement with other ECAs and financiers across a number of jurisdictions.

“Nolans is a long-life strategic project which includes significant downstream value-adding in central Australia.”

DEEP DIVE: Arafura Resources’ DFS for Nolans models an NdPr supply alternative to China

Arafura published a DFS for Nolans NdPr Project earlier this month, demonstrating a financially and technically robust project able to support a long-life operation.

The DFS positions the company as a likely ultra-low-cost producer to sit in the industry’s lowest cost quartile.

Mine life at Nolans has been put at 23 years as 293,000 tonnes of concentrate is produced.

Arafura estimates the project could supply 10 per cent of the world’s NdPr requirements.

The company has Territory and Australian government environmental approvals and has also negotiated three non-binding agreements for the long-term supply of NdPr oxide and phosphoric acid products.

The company has previously flagged Nolans potential for producing: high-purity NdPr oxide product; high-purity mixed middle-heavy rare earths (SEG/HRE) carbonate product; high-purity lanthanum (La) oxide product; and cerium hydroxide product.

 

Arafura managing director Gavin Lockyer spoke to Proactive Investors about the project from New York in an interview published yesterday.

He has been in the city to pitch the project’s NdPr as a potential supply source to US manufacturers looking for supply alternatives to China.

Lockyer was to meet with New York-based investors and the largest manufacturing association in the US, the National Association of Manufacturers, in Washington DC.

READ: Arafura Resources’ Nolans NdPr Project is financially and technically robust

The company added a new chairman to its line-up two weeks ago with non-executive director Mark Southey taking the seat after the retirement of Ian Kowalick.

Southey joined the Arafura board in February 2018 and was group managing director for the minerals, metals and chemicals sector business at WorleyParsons.

He previously held senior executive positions at Honeywell and ABB, in Australia and internationally.

 

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Tue, 26 Feb 2019 18:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215361/arafura-resources-nolans-ndpr-project-assessed-by-naif-ahead-of-investment-decision-215361.html
<![CDATA[Media files - Arafura Resources to meet with U.S. manufacturing association in D.C. and potential off-take partners ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12350/arafura-resources-to-meet-with-us-manufacturing-association-in-dc-and-potential-off-take-partners-12350.html Mon, 25 Feb 2019 16:46:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12350/arafura-resources-to-meet-with-us-manufacturing-association-in-dc-and-potential-off-take-partners-12350.html <![CDATA[News - Arafura Resources appoints experienced executive Mark Southey as chairman ]]> https://www.proactiveinvestors.com.au/companies/news/214604/arafura-resources-appoints-experienced-executive-mark-southey-as-chairman-214604.html Arafura Resources Limited (ASX:ARU) has appointed non-executive director Mark Southey as chairman of the board, replacing Ian Kowalick.

Southey joined the Arafura board in February 2018 after holding previous senior executive positions at Honeywell and ABB, both in Australia and internationally.

More recently he was part of the global executive leadership team at WorleyParsons and was a leader in the engineering, procurement and construction of projects in the energy and resources sector where he held the position of group managing director for the minerals, metals and chemicals sector.

Solid platform to develop Nolans project

Following a review of work commitments, Kowalick determined it was appropriate for him to retire from the board as it pursues the next stage of development.

This follows a capital raising completed in December 2018 and the completion of a definitive feasibility study (DFS), which provide the company with a solid platform to advance the Nolans NdPr Project in the Northern Territory throughout 2019.

Arafura managing director Gavin Lockyer said: “Ian has played an important role in shaping Arafura and delivering Nolans as a technically robust project.

Exciting phase of development

“He was one of the founding directors that recruited me into the organisation in 2006 and I am grateful for his support and guidance over the years.

“I wish Ian and his wife, Helen, all the best for the future and I’m looking forward to working closely with Mark as the new chairman during this very exciting phase of Arafura’s development.”

As well as being a founding director, Kowalick was a seed investor in the company's 2003 initial public offering.

He was instrumental in early management and development of the exploration and development phases of the Nolans Neodymium-Praseodymium Project that has culminated in the recent release of the DFS.

- Jessica Cummins 

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Wed, 13 Feb 2019 23:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214604/arafura-resources-appoints-experienced-executive-mark-southey-as-chairman-214604.html
<![CDATA[News - Arafura Resources’ DFS for Nolans models an NdPr supply alternative to China ]]> https://www.proactiveinvestors.com.au/companies/news/214306/arafura-resources-dfs-for-nolans-models-an-ndpr-supply-alternative-to-china-214306.html Arafura Resources Limited (ASX:ARU) (FRA:REB) (OTCMKTS:ARAFF) specialises in exploration and development in Australia’s Northern Territory. It is run by Gavin Lockyer, a chartered accountant who has more than 20 years experience in the resources and finance industries and who boasts international banking experience at Deutsche Bank in London, ANZ and Bankwest on his CV.

What does Arafura Resources own?

The key asset is the Nolans Neodymium-Praseodymium (NdPr) project, which lies north of Alice Springs, near the Territory’s gas pipeline and on a main highway to Darwin port that soon meets a railway that also connects to the port.

Arafura published its definitive feasibility study (DFS) for the project last Thursday, valuing the primarily NdPr oxide project at A$729 million using an after-tax net present value (NPV10) calculated at a 10% discount.

The DFS is highly leveraged to NdPr prices and every US$5 per kilogram increase in the NdPr oxide price increases NPV10 by A$130 million.

Nolans project has an A$1 billion capital cost and A$48.40 operating cost per kilogram that reduces to $36.85 once an MGA credit is added.

The after-tax internal rate of return is 17.473%, with the 23-year project paying back its investment on an after-tax basis at the five-year mark.

Arafura’s Nolans DFS models a technically strong and cost-competitive project tipped to generate an average of $377 million EBITDA each year over the long mine life.

Arafura took two extra months with the study but was rewarded with results, increasing the previously forecast average annual production of NdPr oxide of 4,357 tonnes by 21% to make the project a significant, long-term NdPr development project.

The company was also able to work on costs, to position itself as a probable ultra-low-cost producer able to sit in the industry’s lowest cost quartile for production.

The modelled project includes a mine, process plant and related infrastructure to be located at the Nolans site.

Nolans is a sizeable, low-risk mineral resource that could supply a significant proportion of the world’s NdPr demand.

A reserve of 19.2 million tonnes grading 3.0% total rare earth oxide (TREO) and 13% phosphate was used in the feasibility study, having an NdPr enrichment factor of 26.4%.

China produced about 80% of global NdPr supply last year and accounts for about 85% of consumption.

The Nolans project could offer an attractive alternative supply of the critical mineral from a Tier 1, Western jurisdiction and thereby change the risk model of the clean energy industry across the globe.

The NdPr oxide used in NdPr-based Neodymium Iron Boron (NdFeB) magnets is sourced from a few, predominately Chinese, suppliers of NdPr oxide and the Nolans project offers a viable alternative supply option for the growing industry.

Arafura hopes to continue product offtake discussions this year, all year, and wrap up project financing discussions this October.

The company is targeting a 2020 start to construction, with a view to commissioning the project in 2022.

Inflection points

Progress of project financing discussions for construction of the project up to October this year

Continued product offtake discussions with potential users downstream in 2019

Outcomes of US national decision-making on the importance of internally or Western nation sourced critical minerals

Progress of regulatory approval applications in the Northern Territory

Availability of construction and commissioning staff and contractors and the state of the industry generally

Managing director Gavin Lockyer pleased to report low operating costs of DFS

“Our operating costs well and truly make us in the lowest quartile of producers globally,” Arafura managing director Gavin Lockyer told the Proactive Investors Stocktube video channel on Friday. “That is extremely important when you’re trying to compete, predominantly with China’s producers.”

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Sun, 10 Feb 2019 18:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214306/arafura-resources-dfs-for-nolans-models-an-ndpr-supply-alternative-to-china-214306.html
<![CDATA[News - Arafura Resources director makes initial on-market share purchase ]]> https://www.proactiveinvestors.com.au/companies/news/214214/arafura-resources-director-makes-initial-on-market-share-purchase-214214.html Arafura Resources Limited (ASX:ARU) non-executive director Mark Southey has demonstrated his faith in the company’s magnet metals strategy with his first acquisition of shares.

Southey, who was appointed to the board a little over 12 months ago, has this week purchased 100,000 shares in an on-market transaction.

Final Investment Decision this year

This comes as the company advances towards a Final Investment Decision later this year at the Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

During the transition to development Southey’s expertise is expected to be well utilised as he brings a wealth of mining, project realisation and technical experience.

READ: Arafura Resources’ Nolans NdPr Project is financially and technically robust

Earlier this week Arafura released the results of a definitive feasibility study (DFS) which showed the Nolans project is financially and technically robust and able to support a long-life operation.

The DFS highlights Nolans’ status as the next potential scale producer of NdPr oxide outside China.

It confirms Nolans as an ultra-low-cost producer sitting in the industry’s lowest cost quartile.

The project is forecast to generate an average of $377 million EBITDA per annum over a 23-year mine life.

Nolans will encompass a mine, process plant and related infrastructure to be constructed and located on-site.

This will be underpinned by a low-risk mineral resource that has the potential to supply a significant proportion of the world’s NdPr demand.

READ: Arafura Resources and Thor Mining confirm extensive tungsten mineralisation at Samarkand

A reserve of 19.2 million tonnes at 3.0% total rare earth oxide (TREO) and 13% phosphate was used in the DFS with an NdPr enrichment factor of 26.4%.

The project’s scale is expected to deliver significant economic and social benefits over many decades to central and northern Australia.

Peak construction workforce is estimated at 650, with a steady state operations workforce of 280.

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Fri, 08 Feb 2019 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214214/arafura-resources-director-makes-initial-on-market-share-purchase-214214.html
<![CDATA[Media files - Arafura Resources chief discusses Nolans NdPr Project DFS ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12144/arafura-resources-chief-discusses-nolans-ndpr-project-dfs-12144.html Thu, 07 Feb 2019 19:06:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12144/arafura-resources-chief-discusses-nolans-ndpr-project-dfs-12144.html <![CDATA[News - Arafura Resources’ Nolans NdPr Project is financially and technically robust ]]> https://www.proactiveinvestors.com.au/companies/news/214127/arafura-resources-nolans-ndpr-project-is-financially-and-technically-robust-214127.html Arafura Resources Limited’s (ASX:ARU) Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory is a financially and technically robust project able to support a long-life operation.

This has been established in a definitive feasibility study (DFS) described by the company’s managing director Gavin Lockyer as “outstanding”.

Next potential scale producer outside China

He said the DFS highlighted Nolans’ status as the next potential scale producer of NdPr oxide outside China.

“The DFS confirms Nolans as an ultra-low-cost producer sitting in the industry’s lowest cost quartile.”

Investors responded positively with shares up more than 10% in early trading to 5.1 cents.

Expert consultants were utilised in all significant aspects of the DFS including estimating ore reserves, capital costs and operating costs.

It delivers a technically strong and cost-competitive project forecast to generate an average of $377 million EBITDA per annum over a 23-year mine life.

Leveraged to NdPr prices

The DFS is highly leveraged to NdPr prices and every US$5 per kilogram increase in the NdPr oxide price increases NPV10 by A$130 million.

Lockyer said: “We are particularly pleased to note that forecast average annual production of NdPr oxide of 4,357 tonnes is 21% higher than previously expected.

“This positions Nolans as the world’s most significant long-term NdPr development projects in a premier mining jurisdiction,” Lockyer said.

READ: Arafura Resources raises $1 million in share placement to advance Nolans NdPr Project

The project will encompass a mine, process plant and related infrastructure to be constructed and located at the Nolans site.

Nolans is underpinned by a low-risk mineral resource that has the potential to supply a significant proportion of the world’s NdPr demand.

A reserve of 19.2 million tonnes at 3.0% total rare earth oxide (TREO) and 13% phosphate was used in the DFS with an NdPr enrichment factor of 26.4%.

The DFS confirms Nolans as a globally significant and strategic NdPr project which, once developed, will become a major supplier of these critical raw materials to the high-performance permanent magnet market.

NdPr-based Neodymium Iron Boron (NdFeB) magnets are a primary enabler of the clean energy industry which is currently reliant on a few, predominately Chinese, suppliers of NdPr oxide.

In 2018 China produced around 80% of global NdPr supply and is estimated to account for 85% of consumption.

READ: Arafura Resources produces rare earth chloride from phase 6 pilot plant

The project’s scale is expected to deliver significant economic and social benefits over many decades to central and northern Australia.

Peak construction workforce is estimated at 650, with a steady state operations workforce of 280.

Having confirmed the technical and economic viability of the Nolans project through the DFS, the company intends to progress the project towards project commitment by the board in 2019.

“Along with having secured environmental approvals, delivery of the DFS adds to the platform from which the company can now complete the remaining milestones for Nolans – binding offtake, permitting and project finance – ahead of a targeted construction start in 2020 and commissioning in 2022,” the managing director added.

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Thu, 07 Feb 2019 10:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214127/arafura-resources-nolans-ndpr-project-is-financially-and-technically-robust-214127.html
<![CDATA[News - Arafura Resources and Thor Mining confirm extensive tungsten mineralisation at Samarkand ]]> https://www.proactiveinvestors.com.au/companies/news/213950/arafura-resources-and-thor-mining-confirm-extensive-tungsten-mineralisation-at-samarkand-213950.html Arafura Resources Ltd (ASX:ARU) and joint venture partner Thor Mining (ASX:THR) have confirmed extensive tungsten mineralisation from the first stage of exploration at the Samarkand deposit, one of 13 known tungsten deposits within the Bonya project in the Northern Territory.

The Bonya tenement is jointly held by Arafura (60%) and Thor (40%) and is adjacent to Thor’s Molyhil mine project.

Samarkand channel sample location plan

Samples collected via a systematic sampling program in December 2018 from trenches returned results including:

• Trench 1: 7 metres at 0.667% tungsten trioxide and 3 metres at 0.307% tungsten trioxide;
• Trench 2: 3 metres at 0.271% tungsten trioxide; and
• Trench 3: 3 metres at 0.203% tungsten trioxide.

Notably, the Samarkand deposit outcrops at surface extending more than 500 metres and is open-ended.

Traditional owner and regulatory clearance for a drill program at Bonya are in progress, and drilling is expected to commence this month.

READ: Arafura Resources reveals maiden copper resource at Bonya

Thor executive chairman Mick Billing said: “We now have confirmed tangible evidence of extensive surface outcropping tungsten mineralisation at Bonya, including mineralisation extending in excess of 500 metres of strike at Samarkand.

“Current indications are that Bonya tungsten mineralisation is coarse grained and may be amenable to low cost pre-concentration by x-ray ore sorting and treatment at the Molyhil processing plant.”

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Tue, 05 Feb 2019 17:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213950/arafura-resources-and-thor-mining-confirm-extensive-tungsten-mineralisation-at-samarkand-213950.html
<![CDATA[News - Arafura Resources raises $1 million in share placement to advance Nolans NdPr Project ]]> https://www.proactiveinvestors.com.au/companies/news/211365/arafura-resources-raises-1-million-in-share-placement-to-advance-nolans-ndpr-project-211365.html Arufura Resources Limited (ASX:ARU) has raised $1.03 million in a share placement of nearly 23.5 million fully paid ordinary shares at a price of 4.4 cents each.

The placement to sophisticated and professional investors complements the company’s recently completed share purchase plan (SPP), with both capital raisings giving a combined total of more than $4 million.

 

Funds from the placement and SPP will be used to advance Arafura’s Nolans Neodymium-Praseodymium (NdPr) Project as well as for general working capital.

Patersons Securities Limited acted as lead manager to the domestic component of the placement and Amvest Capital Inc, acting through Mann Mann Jensen Parterns LP acted as the US co-manager.

READ: Arafura Resources issues new shares from $3 million share purchase plan

Arafura managing director Gavin Lockyer said the placement complements the fully-subscribed SPP and places the company in an excellent position.

Lockyer said: “With the recent completion of phase VI of the Nolans pilot program and the definitive feasibility study (DFS) targeted for release in February 2019, the Arafura team are now well-funded to advance its 100%-owned and 100%-Australian domiciled Nolans NdPr Project.

READ: Arafura Resources produces rare earth chloride from phase 6 pilot plant

The company’s phase-six pilot plant recently produced NdPr-enriched rare earth chloride using material from the Nolans projet.

Phase VI of the pilot program – rare earth dissolution and evaporation – targeted the removal of low value, high volume cerium from rare earth hydroxide to produce rare earth chloride.

This process reduces the volume of material that feeds into rare earth separation resulting in a smaller and more efficient separation plant that will focus on the production of high-value rare earth products such as NdPr oxide.

The company has confirmed more than 99.5% of the cerium was rejected from the rare earth chloride during steady state operation of the pilot.

The cerium rejection process represents valuable intellectual property and a significant downstream operational advantage over traditional separation circuits run by other rare earth companies.

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Mon, 17 Dec 2018 23:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211365/arafura-resources-raises-1-million-in-share-placement-to-advance-nolans-ndpr-project-211365.html
<![CDATA[News - Arafura Resources issues new shares from $3 million share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/news/211194/arafura-resources-issues-new-shares-from-3-million-share-purchase-plan-211194.html Arafura Resources Limited (ASX:ARU) has today issued the new shares associated with its oversubscribed share purchase plan (SPP) which raised more than $3 million.

The SPP saw shares issued at an offer price of 4.4 cents per new share with these to begin trading on the ASX next Monday.

READ: Arafura Resources closes $3 million SPP oversubscribed

The offer price for the new shares was equal to 80% of the volume weighted average market price (VWAP) for the 5-day period up to and including Thursday, December 13, 2018.

Arafura’s managing director Gavin Lockyer said: “We are very pleased with the outcome of the SPP and the level of support we received from our shareholders.

“The company is now well funded to advance the DFS for its 100%-owned and 100% Australian domiciled Nolans NdPr Project.”

Lockyer participated in the placement, purchasing more than 454,500 shares valued at $20,000 for two indirect interests.

One indirect interest now holds more than 552,000 shares and another now holds almost 746,000 shares.

Non-executive director Chris Tonkin also participated, acquiring shares with a total value of $5,000, lifting his total holding to more than 238,000.

Funds to advance Nolans project

SPP proceeds will be used to advance the Nolans Neodymium Praseodymium (NdPr) Project in the Northern Territory.

Nolans has a JORC resource of 56 million tonnes at an average grade of 2.6% total rare earth oxides (TREO) that extends 215 metres below surface.

The resource has the potential to support mining and processing operations for at least 30 years, at a design capacity of 14,000 tonnes of TREO equivalent a year.

Arafura’s focus during the year has been to validate the performance of its process flowsheet through completing seven consecutive pilot operations.

READ: Arafura Resources produces rare earth chloride from phase 6 pilot plant

The company recently announced that the phase 6 pilot plant had produced NdPr enriched rare earth chloride using material from Nolans.

Phase 6 of the pilot program – rare earth dissolution and evaporation – targeted removal of low-value, high-volume cerium from rare earth hydroxide to produce rare earth chloride.

This process reduces the volume of material that feeds into rare earth separation resulting in a smaller and more efficient separation plant that will focus on production of high-value rare earth products such as NdPr oxide.

The rare earth processing pilot plant at ALS Metallurgical Services in Perth ran continuously for seven days, processing rare earth hydroxide precipitate.

The phase 6 pilot plant operations at ALS Metallurgical Services in Perth.

More than 99.5% of cerium rejected

Arafura has confirmed that more than 99.5% of the cerium was rejected from the rare earth chloride during steady state operation of the pilot.

The cerium rejection process represents valuable intellectual property and a significant downstream operational advantage over traditional separation circuits run by other rare earth companies.

Arafura’s flowsheet for rare earth processing at Nolans, which incorporates cerium rejection, is the subject of a patent application.

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Fri, 14 Dec 2018 13:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211194/arafura-resources-issues-new-shares-from-3-million-share-purchase-plan-211194.html
<![CDATA[Media files - Arafura Resources' latest pilot plant results are 'very significant and quite unique' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11618/arafura-resources--latest-pilot-plant-results-are--very-significant-and-quite-unique--11618.html Fri, 14 Dec 2018 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11618/arafura-resources--latest-pilot-plant-results-are--very-significant-and-quite-unique--11618.html <![CDATA[News - Arafura Resources produces rare earth chloride from phase 6 pilot plant ]]> https://www.proactiveinvestors.com.au/companies/news/211015/arafura-resources-produces-rare-earth-chloride-from-phase-6-pilot-plant-211015.html Arafura Resources Limited’s (ASX:ARU) phase 6 pilot plant has successfully produced neodymium-praseodymium (NdPr) enriched rare earth chloride using material from its Nolans NdPr Project in the Northern Territory.

Phase 6 of the pilot program – rare earth dissolution and evaporation – targeted the removal of low value, high volume cerium from rare earth hydroxide to produce rare earth chloride.

NdPr-enriched rare earth chloride liquor

This process reduces the volume of material that feeds into rare earth separation resulting in a smaller and more efficient separation plant that will focus on the production of high-value rare earth products such as NdPr oxide.

Arafura’s rare earth processing pilot plant at ALS Metallurgical Services in Perth ran continuously for seven days, processing rare earth hydroxide precipitate from the phase 6 pilot plant.

The company has confirmed that more than 99.5% of the cerium has been rejected from the rare earth chloride during steady state operation of the pilot.

The cerium rejection process represents valuable intellectual property and a significant downstream operational advantage over traditional separation circuits run by other rare earth companies.

Arafura’s flowsheet for rare earth processing at Nolans, which incorporates cerium rejection, is currently the subject of a patent application.

The phase 6 pilot plant is now in the final stages of decommissioning.

READ: Arafura Resources closes $3 million SPP oversubscribed

Arafura managing director Gavin Lockyer said: “The successful operation of our rare earth processing pilot plant marks the conclusion of the large-scale validation of our process flowsheet.

“We have developed and applied a number of process innovations across the flowsheet, including cerium removal prior to rare earth separation.

“Reagent consumption data from this latest phase of piloting are now being used to inform final plant design and costings in the definitive feasibility study.

“The results of the study are expected by early February.”

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Wed, 12 Dec 2018 13:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211015/arafura-resources-produces-rare-earth-chloride-from-phase-6-pilot-plant-211015.html
<![CDATA[News - Arafura Resources closes $3 million SPP oversubscribed ]]> https://www.proactiveinvestors.com.au/companies/news/211005/arafura-resources-closes-3-million-spp-oversubscribed-211005.html Arafura Resources Ltd (ASX:ARU) has closed its share purchase plan (SPP) oversubscribed after receiving over $3 million worth of applications from shareholders.

The company plans to accept the oversubscriptions, which will be used to advance the Nolans Neodymium Praseodymium (NdPr) Project in the Northern Territory.

Arafura’s managing director Gavin Lockyer said: “We are very pleased with the outcome of the SPP and the level of support we received from our shareholders.

“The company is now well funded to advance the DFS for its 100% owned and 100% Australian domiciled Nolans NdPr Project.”

READ: Arafura Resources optimises DFS for Nolans NdPr project in Northern Territory

Nolans has a JORC resource of 56 million tonnes at an average grade of 2.6% total rare earth oxides (TREO) that extends 215 metres below surface.

The resource has the potential to support mining and processing operations for at least 30 years, at a design capacity of 14,000 tonnes of TREO equivalent a year.

Arafura’s focus during the year has been to validate the performance of its process flowsheet through completing seven consecutive pilot operations.

READ: Arafura Resources completes phase 5 of flow sheet pilot program

In late November 2018, Arafura completed phase 5 in its flow sheet piloting program.

This involved operation of the first of the company’s rare earth processing pilot plants, which ran continuously over a five-day period at facilities in Perth.

This phase of piloting takes NdPr-rich rare earth sulphate material through purification and precipitation processes to produce rare earth hydroxide.

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Wed, 12 Dec 2018 08:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211005/arafura-resources-closes-3-million-spp-oversubscribed-211005.html
<![CDATA[News - Arafura Resources enters trading halt ahead of capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/210625/arafura-resources-enters-trading-halt-ahead-of-capital-raising-210625.html Arafura Resources Limited (ASX:ARU) has been granted a trading halt by the ASX pending an announcement regarding a share purchase plan (SPP).

The halt will remain in place until the earlier of the start of trading on Monday, December 10, or an announcement is released to the market.

 

Arafura is developing the Nolans Neodymium Praseodymium Project in the Northern Territory.

The company is undertaking a definitive feasibility study (DFS) which is due in early February 2019 and recently announced an optimisation review of the DFS’ cost estimates.

READ: Arafura Resources optimises DFS for Nolans NdPr project in Northern Territory

Nolans has a JORC resource of 56 million tonnes at an average grade of 2.6% total rare earth oxides (TREO) that extends 215 metres below surface.

The resource has the potential to support mining and processing operations for at least 30 years, at a design capacity of 14,000 tonnes of TREO equivalent a year.

Arafura’s focus during the year has been to validate the performance of its process flowsheet through completing seven consecutive pilot operations.

Last week the company announced it had completed phase five of pilot operations.

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Wed, 05 Dec 2018 21:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210625/arafura-resources-enters-trading-halt-ahead-of-capital-raising-210625.html
<![CDATA[Media files - Arafura Resources optimising Nolans project DFS, set for publication in February ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11450/arafura-resources-optimising-nolans-project-dfs-set-for-publication-in-february-11450.html Wed, 05 Dec 2018 16:26:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11450/arafura-resources-optimising-nolans-project-dfs-set-for-publication-in-february-11450.html <![CDATA[News - Arafura Resources optimises DFS for Nolans NdPr project in Northern Territory ]]> https://www.proactiveinvestors.com.au/companies/news/210530/arafura-resources-optimises-dfs-for-nolans-ndpr-project-in-northern-territory-210530.html Arafura Resources Limited (ASX:ARU) will undertake an optimisation review of the definitive feasibility study cost estimates for its Nolans Neodymium-Praseodymium (NdPr) project in the Northern Territory.

The company will investigate the basis of reagent pricing and a trade-off analysis of capital expenditure versus operating expenditure options.

 

Some preliminary operating and capital expenditure estimates for Nolans’ DFS, based on external data sources, were found to be materially higher than internal targets and estimates previously announced by Arafura.

The company believes the estimates warrant detailed examination and optimisation to the extent possible.

Arafura will further refine reagent pricing on confirmation of reagent consumption from pilot tests of rare earth processing.

The second of Arafura’s pilot plants, phase-six rare earth dissolution and evaporation, is currently in operation.

READ: Arafura Resources completes phase 5 of flow sheet pilot program

Nolans has a JORC resource of 56 million tonnes at an average grade of 2.6% total rare earth oxides (TREO) that extends 215 metres below surface.

The resource has the potential to support mining and processing operations for at least 30 years, at a design capacity of 14,000 tonnes of TREO equivalent a year.

Arafura’s focus during the year has been to validate the performance of its process flowsheet through completing seven consecutive pilot operations.

Last week the company announced it had completed phase-five of pilot operations.

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Tue, 04 Dec 2018 19:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210530/arafura-resources-optimises-dfs-for-nolans-ndpr-project-in-northern-territory-210530.html
<![CDATA[News - Arafura Resources completes phase 5 of flow sheet pilot program ]]> https://www.proactiveinvestors.com.au/companies/news/210071/arafura-resources-completes-phase-5-of-flow-sheet-pilot-program-210071.html Arafura Resources Ltd (ASX:ARU) has completed phase 5 in its flow sheet piloting program for its 100%-owned Nolans Neodymium-Praseodymium (NdPr) project in the Northern Territory.

This involved operation of the first of the company’s rare earth processing pilot plants, which ran continuously over a five-day period at facilities in Perth.

This phase of piloting takes NdPr-rich rare earth sulphate material through purification and precipitation processes to produce rare earth hydroxide.

Rare earth hydroxide precipitate produced from the pilot will feed the upcoming phase 6 (Rare Earth Dissolution and Evaporation) pilot plant.

This is scheduled to commence within a week.

READ: Arafura Resources outlines $3 million raising as it advances DFS for NdPr project

Most recently, Arafura and its partner Thor Mining PLC (ASX:THR) compiled a maiden resource for the historical Bonya Copper Mine deposit in the Northern Territory.

READ: Arafura Resources reveals maiden copper resource at Bonya

Arafura owns 60% of the tenement alongside operator Thor Mining (40%).

The small but moderately high-grade copper resource is a satellite to, and amenable for treatment in the proposed Molyhil process plant.

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Wed, 28 Nov 2018 09:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210071/arafura-resources-completes-phase-5-of-flow-sheet-pilot-program-210071.html
<![CDATA[Media files - Arafura Resources nears DFS completion for Nolans NdPr Project, undertakes capital raising ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11342/arafura-resources-nears-dfs-completion-for-nolans-ndpr-project-undertakes-capital-raising-11342.html Tue, 27 Nov 2018 19:26:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11342/arafura-resources-nears-dfs-completion-for-nolans-ndpr-project-undertakes-capital-raising-11342.html <![CDATA[News - Arafura Resources reveals maiden copper resource at Bonya ]]> https://www.proactiveinvestors.com.au/companies/news/209867/arafura-resources-reveals-maiden-copper-resource-at-bonya-209867.html Arafura Resources Ltd (ASX:ARU) and its partner Thor Mining PLC (ASX:THR) have compiled a maiden resource for the historical Bonya Copper Mine deposit in the Northern Territory.

The resource estimate totals 230,000 tonnes grading 2.0% copper for 4,600 tonnes of copper, with trace levels of tungsten and molybdenum.

The small but moderately high-grade copper resource is a satellite to, and amenable for treatment in the proposed Molyhil process plant.

The deposit outcrops at surface and remains open at depth.

Most of the deposit is amenable to open cut extraction and it has the potential to add six months of profitable mine life to Molyhil.

READ: Arafura Resources share purchase plan is underwritten to $3 million

Thor’s executive chairman Mick Billing said: “This small but high-grade copper resource will provide valuable supplementary mill feed to the company’s nearby Molyhil process plant.

“Our primary incentive to acquire an interest in the Bonya exploration licence was, and still remains, the tungsten deposits in the licence area, therefore this “free” copper resource could be considered a bonus.

“The Molyhil processing plant design is amenable to the treatment of copper ores of this nature, without modification, and we expect this material will flow though the plant with no additional investment required, other than mining and haulage.”

First of potentially many of these deposits within trucking distance

“This the first of what we believe will be series of satellite tungsten and copper deposits within economic trucking distance of Molyhil.

“In addition to the work on the copper deposit at Bonya, an external review of the vanadium deposits, also on the project licence, is in progress, and we expect to provide investors with an update on this shortly.

“Nearby the Bonya copper deposit are several outcropping tungsten deposits which, upon completion of drill site access clearance, we plan to commence drilling, probably in February 2019.”

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Mon, 26 Nov 2018 09:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209867/arafura-resources-reveals-maiden-copper-resource-at-bonya-209867.html
<![CDATA[News - Arafura Resources non-executive director Terry Grose retires from board ]]> https://www.proactiveinvestors.com.au/companies/news/209725/arafura-resources-non-executive-director-terry-grose-retires-from-board-209725.html Arafura Resources Limited (ASX:ARU) non-executive director Terry Grose has retired from the company’s board to pursue other business interests.

Grose joined the board in January 2013 and Arafura said since then he had been an influential contributor to the company’s development.

READ: Arafura Resources share purchase plan is underwritten to $3 million

He was a member of the Remuneration & Nomination Committee and chair of the Audit & Risk Committee.

Arafura’s chairman Ian Kowalick said: “We thank Terry for his contribution over the many years with Arafura and wish him every success in his future endeavours.

“The board regularly reviews its skill sets, capabilities and capacity and will subsequently assess the loss of Terry’s skills in light of the approaching finalisation of the DFS and moving into the next phase of development.”

READ: Arafura Resources outlines $3 million raising as it advances DFS for NdPr project

A replacement chair to the Audit & Risk Committee will be selected from existing members.

Arafura is moving into the development phase of the Nolans NdPr Project in the Northern Territory.

The company held its annual general meeting today with all resolutions put to shareholders passed by way of poll.

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Thu, 22 Nov 2018 15:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209725/arafura-resources-non-executive-director-terry-grose-retires-from-board-209725.html
<![CDATA[News - Arafura Resources share purchase plan is underwritten to $3 million ]]> https://www.proactiveinvestors.com.au/companies/news/209330/arafura-resources-share-purchase-plan-is-underwritten-to-3-million-209330.html Arafura Resources Ltd (ASX:ARU) has today opened its share purchase plan (SPP) to eligible shareholders allowing them to apply for up to $15,000 worth of shares.

Notably, the SPP is being underwritten to the value of $3 million subject to standards terms and conditions.

The underwriting agreement means that at least $3 million in funding for the company should be secured from the SPP.

READ: Arafura Resources to raise $3 million as it advances DFS for NdPr project

Funds raised under the SPP will be used to advance the company’s Nolans Neodymium Praseodymium (NdPr) Project in the Northern Territory and for general working capital.

The SPP will open today and will remain open until 5.00pm AWST on Friday, 7 December 2018.

As soon as practicable after the close of the SPP, Arafura will inform the market of the result.

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Fri, 16 Nov 2018 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209330/arafura-resources-share-purchase-plan-is-underwritten-to-3-million-209330.html
<![CDATA[Media files - Arafura Resources CEO updates on DFS, separation plant, and share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11178/arafura-resources-ceo-updates-on-dfs-separation-plant-and-share-purchase-plan-11178.html Tue, 13 Nov 2018 10:32:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11178/arafura-resources-ceo-updates-on-dfs-separation-plant-and-share-purchase-plan-11178.html <![CDATA[News - Arafura Resources outlines $3 million raising as it advances DFS for NdPr project ]]> https://www.proactiveinvestors.com.au/companies/news/208970/arafura-resources-outlines-3-million-raising-as-it-advances-dfs-for-ndpr-project-208970.html Arafura Resources Limited (ASX:ARU) has launched a Patersons Securities Limited-led $3 million Share Purchase Plan to help progress its wholly-owned Nolans Neodymium Praseodymium (NdPr) Project in the Northern Territory (NT).

The underwritten offer will be priced at a 20% discount to the 5-day volume-weighted average price of shares before the date-of-issue.

READ: Arafura Resources reveals plan to build rare earth separation plant on site, DFS on track

Shareholders will be offered the new shares free of fees and brokerage costs.

The company plans also to use the funds towards working capital as it works on a definitive feasibility study (DFS) for the Nolans project, 135 kilometres from Alice Springs, and reaches a final investment decision stage.

Arafura plans to build a separation plant on-site at the NT project that is adjacent to the Amadeus natural gas pipeline and 10 kilometres from the Stuart Highway, after discarding an earlier plan to build the plant in South Korea.

The rare earths project is considered one of the world’s largest undeveloped NdPr projects.

Its JORC-compliant resource of 56 million tonnes grading 2.6% total rare earth oxides with 26.4% neodymium praseodymium enrichment could potentially provide 5-10% of global demand of the oxide for use in permanent magnets.

Arafura is nearing completion of a pilot program and is expecting to finish the DFS in December 2018 and move towards a final decision on the project in 2019.

 

Arafura’s non-renounceable share purchase plan is open to shareholders that were on its register at 7pm market time last Friday, November 9, 2018.

Investors can subscribe to up to $15,000 in new shares, with the parcels that shareholders can invest in being sized at their choice of $1,000, $2,500, $5,000, $7,500, $10,000 and $15,000 lots.

Patersons will also offer shares under a top-up placement at the same price as the SPP, up to the company’s maximum placement capacity under ASX Ltd (ASX:ASX) listing rules.

READ: Arafura Resources receives valuable $2.1 million tax refund

The underwriter’s fees are 6% of gross proceeds, meaning Arafura can take home up to $2.82 million from its capital raising.

Shareholders will be despatched an offer this Friday, November 16, and have until Friday, December 7, 2018, to apply, with new shares expected to be quoted on the Australian Securities Exchange on Monday, December 17.

A copy of the offer will be available at the company’s website www.arultd.com from Friday, with online applications welcome.

For further information on the share purchase plan, call the Link Market Services Ltd share registry between 8.30am and 5pm AEDT on weekdays, on (+61) 1300 222 378.

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Sun, 11 Nov 2018 21:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208970/arafura-resources-outlines-3-million-raising-as-it-advances-dfs-for-ndpr-project-208970.html
<![CDATA[News - Arafura Resources prepares to raise capital, shares halted ]]> https://www.proactiveinvestors.com.au/companies/news/208781/arafura-resources-prepares-to-raise-capital-shares-halted-208781.html Arafura Resources Ltd (ASX:ARU) has been granted a trading halt this morning pre-market as it prepares to raise capital.

Shares will remain halted until the earlier of the start of normal trading on Monday, November 12, or when the capital raising announcement is released to the market.

READ: Arafura Resources reveals plan to build rare earth Separation Plant on site, DFS on track

Arafura is in the process of finalising a definitive feasibility study (DFS) on its flagship 100%-owned Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

The company recently said it was on track to complete the Nolans DFS in the coming weeks and continues to advance funding and offtake discussions so that a final investment decision may be reached in 2019.

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Thu, 08 Nov 2018 09:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208781/arafura-resources-prepares-to-raise-capital-shares-halted-208781.html
<![CDATA[News - Arafura Resources reveals plan to build rare earth Separation Plant on site, DFS on track ]]> https://www.proactiveinvestors.com.au/companies/news/208673/arafura-resources-reveals-plan-to-build-rare-earth-separation-plant-on-site-dfs-on-track-208673.html Arafura Resources Ltd (ASX:ARU) has revealed that the preferred site for its proposed rare earth Separation Plant is at its 100%-owned Nolans Neodymium-Praseodymium (NdPr) Project.

Efficiencies identified through the definitive feasibility study (DFS) and other development work support multiple benefits for building the Separation Plant on site at Nolans.

Arafura is on track to complete the Nolans DFS in the coming weeks and continues to advance funding and offtake discussions so that a final investment decision may be reached in 2019.

READ: Arafura Resources signs MoU for supply of NdPr oxide to major Chinese manufacturer

Arafura’s managing director Gavin Lockyer said: “This makes Nolans a 100% Australian domiciled project and unlocks significant value prior to product export.

“Our engagement with NdFeB magnet manufacturers and end users indicates a growing focus on the provenance of NdPr supply being sustainable and managed in an environmentally and socially responsible manner.

“Nolans will soon represent a new long-term, secure supply of 3,600 tonnes of NdPr oxide each year and building the Separation Plant at the project site will bring additional benefits to the Northern Territory and in particular the Central Australian region.”

Multiple factors support a local plant

The process for selecting a site for the plant involved a detailed assessment that considered environmental, economic and operational factors.

Process and configuration efficiencies were identified as part of the DFS and Arafura’s comprehensive test work and flowsheet piloting programs have made the relocation to the Nolans site more feasible.

The decision will also mitigate some of the project’s operational risks.

Local plant will result in benefits for the Northern Territory

Importantly, by building the proposed Separation Plant on site, additional benefits will be delivered for the Northern Territory and central Australia region.

Arafura anticipates that 20-25 jobs will be created as a result of a local plant, adding to the US$680 million project’s estimated total workforce of 350-370.

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Wed, 07 Nov 2018 08:34:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208673/arafura-resources-reveals-plan-to-build-rare-earth-separation-plant-on-site-dfs-on-track-208673.html
<![CDATA[News - Arafura Resources receives valuable $2.1 million tax refund ]]> https://www.proactiveinvestors.com.au/companies/news/207337/arafura-resources-receives-valuable-21-million-tax-refund-207337.html Arafura Resources Ltd (ASX:ARU) has received a tax refund of $2.1 million for eligible expenditure at its 100% owned Nolans Neodymium‐Praseodymium Project in the Northern Territory. 

The company plans to use these funds to support the completion of the Nolans definitive feasibility study (DFS) currently in progress.

Notably, Arafura’s total cash receipts from these tax incentives now amount to $39.1 million.

Tax rebate highlights the project’s importance

The fact that expenditure incurred in developing the Nolans Project is eligible for the federal government’s tax incentive program is a positive for the project.

This together with the ongoing support of the Australian and Northern Territory governments highlights the strategic and advanced nature of the project and its potential economic benefit to regional Australia.

Notably, in 2016, the project gained major project status from the Commonwealth Government.

READ: Arafura Resources signs MoU for supply of NdPr oxide to major Chinese manufacturer

Earlier this week, Arafura signed a memorandum of understanding (MoU) with JingCi Material Science Co Ltd for the supply of NdPr oxide from the Nolans Project.

The non-binding MoU envisages a long-term supply to JingCi of up to 900 tonnes per annum of NdPr oxide, representing a quarter of Nolans’ forecast annual output of 3,600 tonnes.

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Thu, 18 Oct 2018 15:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207337/arafura-resources-receives-valuable-21-million-tax-refund-207337.html
<![CDATA[Media files - Arafura Resources leveraged to 'increasing market with a very limited supply base' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10903/arafura-resources-leveraged-to-increasing-market-with-a-very-limited-supply-base--10903.html Thu, 18 Oct 2018 14:43:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/10903/arafura-resources-leveraged-to-increasing-market-with-a-very-limited-supply-base--10903.html <![CDATA[News - Arafura Resources signs MoU for supply of NdPr oxide to major Chinese manufacturer ]]> https://www.proactiveinvestors.com.au/companies/news/207037/arafura-resources-signs-mou-for-supply-of-ndpr-oxide-to-major-chinese-manufacturer-207037.html Arafura Resources Limited (ASX:ARU) has signed a memorandum of understanding (MoU) with JingCi Material Science Co Ltd for the supply of neodymium-praseodymium (NdPr) oxide from its Nolans Project in the Northern Territory.

The non-binding MoU envisages a long-term supply to JingCi of up to 900 tonnes per annum of NdPr oxide, representing a quarter of Nolans’ forecast annual output of 3,600 tonnes.

It contains provisions for JingCi to assist Arafura in project financing, potentially through the introduction of original equipment manufacturers (OEMs) to the process, as well as providing a framework for negotiating a final offtake agreement.

 

Arafura managing director Gavin Lockyer said: “We are delighted to have signed the MoU with JingCi and look forward to working with them to negotiate a final offtake agreement.

“This is an important step in the company’s efforts to arrange financing for the Nolans project and is the result of a lot of hard work by our team.”

The company is also negotiating a number of offtake MoUs for the remaining NdPr oxide from Nolans, as well as for other rare earth products and phosphoric acid.

READ: Arafura Resources developing mining management plan for Nolans NdPr Project

JingCi is a tier-I Chinese manufacturer of neodymium-iron-boron permanent magnets, producing about 6,500 tonnes per annum and operating under Hitachi Metals’ worldwide patents.

Around 85% of JingCi’s sales are outside of China, primarily to globally-recognised automotive, wind energy, consumer electronics and industrial motor companies, as well as OEMs in the supply chain.

Mining management plan ongoing

Arafura started developing a comprehensive mining management plan (MMP) for Nolans last month, which follows confirmation of design from the definitive feasibility study progression.

The company anticipates submitting the MMP to the Northern Territory Department of Primary Industry and Resources in early 2019.

Final project construction and operating approvals on granted mining licences are obtained when the department approves the activities in an MMP and issues a mining authorisation.

Arafura expects the near-contemporaneous grant of the Nolans project mining licence and issuing of the mining authorisation in the first half of 2019.

26.4% NdPr in Nolans rare earth mix

Nolans rare earths-phosphate deposit is one of the largest and most intensively-explored deposits of its kind in the world.

It contains a JORC 2012-compliant mineral resource of 56 million tonnes at an average grade of 2.6% total rare earth oxides, that extends to 215 metres below the surface.

Two-thirds of the contained rare earths are in high-confidence measured and indicated resources.

The most abundant rare earth-bearing minerals at Nolans are apatite, monazite and allanite.

These minerals present a highly-desirable rare earth mix at Nolans, with 26.4% of the mix represented by NdPr.

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Sun, 14 Oct 2018 23:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207037/arafura-resources-signs-mou-for-supply-of-ndpr-oxide-to-major-chinese-manufacturer-207037.html
<![CDATA[News - Arafura Resources developing Mining Management Plan for Nolans NdPr Project ]]> https://www.proactiveinvestors.com.au/companies/news/204399/arafura-resources-developing-mining-management-plan-for-nolans-ndpr-project-204399.html Arafura Resources Limited (ASX:ARU) has started developing a comprehensive Mining Management Plan (MMP) for its Nolans Neodymium‐Praseodymium (NdPr) Project in the Northern Territory.

The MMP is being prepared to include the recommended environmental approval conditions of the Northern Territory Environment Protection Authority and the Australian Government.

Additionally, it will incorporate the commitments made by Arafura in the project’s Environmental Impact Statement (EIS).

The MMP follows confirmation of design from the definitive feasibility study (DFS) progression.

Arafura anticipates submitting the MMP to the Northern Territory Department of Primary Industry and Resources (DPIR) in early‐2019.

The document will be important in demonstrating to DPIR that Nolans can be built, operated and managed in compliance with the environmental approval conditions and Northern Territory regulations.

Final project construction and operating approvals on granted mining licences are obtained when DPIR approves the activities in an MMP and issues a mining authorisation.

Arafura anticipates the near-contemporaneous grant of the Nolans project mining licences and issuing of the mining authorisation during the first half of 2019.

Plan to include integrated management system

The MMP will include an integrated management system that encompasses the key areas of safety, environment and quality management.

Detailed management plans are also being prepared, replacing conceptual preliminary plans which were accepted and approved in the EIS.

The key management plans include:

- Water, including groundwater, groundwater abstraction and surface water; - Biodiversity; - Waste, including mine waste rock, tailings and process residues, and general waste; - Radiation; - Safety and well-being; - Traffic and logistics; and - Mine closure. Consultants appointed

New and existing consultants contracted to Arafura for the DFS have been appointed to assist with the development of the integrated management system and detailed management plans.

These parties will draw on experience gained in developing the Nolans EIS and through involvement with other mining and mineral processing operations.

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Fri, 07 Sep 2018 15:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204399/arafura-resources-developing-mining-management-plan-for-nolans-ndpr-project-204399.html
<![CDATA[Media files - Arafura Resources educates investors on key element that powers electric cars ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10348/arafura-resources-educates-investors-on-key-element-that-powers-electric-cars-10348.html Wed, 05 Sep 2018 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10348/arafura-resources-educates-investors-on-key-element-that-powers-electric-cars-10348.html <![CDATA[News - Arafura Resources climbing valuation provides capital raising opportunity ]]> https://www.proactiveinvestors.com.au/companies/news/185910/arafura-resources-climbing-valuation-provides-capital-raising-opportunity-185910.html 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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Fri, 20 Oct 2017 08:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185910/arafura-resources-climbing-valuation-provides-capital-raising-opportunity-185910.html
<![CDATA[News - Arafura Resources makes steady progress at Nolans rare earth project ]]> https://www.proactiveinvestors.com.au/companies/news/181378/arafura-resources-makes-steady-progress-at-nolans-rare-earth-project-181378.html Arafura Resources (ASX:ARU) has successfully completed bulk pre-leach piloting for its Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

The Nolans project contains one of the world’s largest neodymium and praseodymium deposits, a valuable source of rare earth magnets.

The bulk pre-leach pilot plant was the third phase of Arafura’s final piloting of the Nolans process flow sheet.

It follows from the successful operation of the beneficiation pilot plant (phase 1) which delivered a high-phosphate concentrate (HPC) as feed to the bulk pre-leach.

This HPC was characterised by enhanced recoveries of phosphate (>90%) and the key magnet-feed rare earths NdPr (>82%), and efficient rejection of impurities.

Phase 2 of the piloting program (phosphate extraction) was successful in validating the metallurgical process.

Arafura then commenced operation of the phase 3 pilot in July, the main aim of which was to produce sufficient NdPr-rich pre-leach residue (PLR) for subsequent phases of the piloting program.

The plant processed around 4.3 tonnes of HPC, generated about 2 tonnes of PLR, and operated with online thickening and filtration to replicate the full scope of the pre-leach process.

The performance of the thickeners and filters met with expectations as did the extraction of phosphate from the HPC.

Planning is now underway for phase 4 of the Nolans Pilot Program - acid bake of PLR produced from the phase 3 bulk pre-leach pilot.

Construction and operation of the phase 4 pilot are scheduled for the September quarter of 2017.

Arafura is aiming to become one of the world’s largest suppliers of rare earth magnets, which are poised for significant growth supported by demand from the electric vehicle industry.

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Tue, 25 Jul 2017 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181378/arafura-resources-makes-steady-progress-at-nolans-rare-earth-project-181378.html
<![CDATA[News - Arafura Resources secures funds to progress Nolans project ]]> https://www.proactiveinvestors.com.au/companies/news/176040/arafura-resources-secures-funds-to-progress-nolans-project-176040.html Arafura Resources (ASX:ARU) has raised $3,133,500 from shareholders via a share purchase plan at $0.060 per share.

The new funds along with Arafura’s existing cash reserves will be used to progress the Nolans Neodymium- Praseodymium Project pilot program.

Arafura had completed a $3.6 million capital raising in February which was well supported by institutional investors.

The Nolans project contains one of the world’s largest neodymium and praseodymium deposits, a valuable source of rare earth magnets.

Last month, the company engaged phosphoric acid expert Prayon Technologies to provide specialist support for operating a phosphate extraction pilot plant at Nolans.

Arafura is aiming to extract phosphate from the concentrate produced from the beneficiation pilot plant and produce phosphoric acid as a value-enhancing by-product.

Importantly, the ability to produce phosphoric acid as a by-product at Nolans provides Arafura with a natural advantage over other rare earth projects as it will reduce overall operating costs.

Arafura is aiming to become one of the world’s largest suppliers of rare earth magnets, which are poised for significant growth supported by demand from the electric vehicle industry.

The recent interest shown in the Nolans project by investors has given the company confidence to commence the next phase of the final feasibility study.

Arafura’s share price has increased by circa 23% since the start of 2017, last trading at $0.070.

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Thu, 06 Apr 2017 08:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/176040/arafura-resources-secures-funds-to-progress-nolans-project-176040.html
<![CDATA[News - Arafura Resources advancing to the next phase at Nolans Project ]]> https://www.proactiveinvestors.com.au/companies/news/174582/arafura-resources-advancing-to-the-next-phase-at-nolans-project-174582.html Arafura Resources (ASX:ARU) is progressing to the next phase of piloting at its Nolans Neodymium-Praseodymium Project in the Northern Territory.

The company has engaged phosphoric acid expert Prayon Technologies to provide specialist support for operating a phosphate extraction pilot plant.

Arafura is aiming to extract phosphate from the concentrate produced from the beneficiation pilot plant and produce phosphoric acid as a value-enhancing by-product.

Importantly, the ability to produce phosphoric acid as a by-product at Nolans provides Arafura with a natural advantage over other rare earth projects as it will reduce overall operating costs.

The appointment of Prayon for the phosphate extraction pilot plant follows the completion of a $3.6 million capital raising in February which was well supported by investors.

The recent interest shown in the Nolans project by institutional investors has given the company confidence to commence the next phase of the final feasibility study.

Arafura will require significant capital spend for the next five phases of piloting.

The funds raised via the placement, together with the anticipated inflow from the current share purchase plan, will enable the company to meet this requirement.

Arafura is raising up to $2.5 million from the share purchase plan, which closes on 20 March 2017.

The company’s share price has increased by circa 37% since the start of 2017, last trading at $0.078.

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Fri, 10 Mar 2017 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174582/arafura-resources-advancing-to-the-next-phase-at-nolans-project-174582.html
<![CDATA[News - Arafura Resources to lift cash position on back of stronger share price ]]> https://www.proactiveinvestors.com.au/companies/news/173226/arafura-resources-to-lift-cash-position-on-back-of-stronger-share-price-173226.html Arafura Resources (ASX:ARU) shares last traded at $0.10, or close to double their value from the beginning of 2017, as investors provide support for the company's wholly-owned Nolans Neodymium-Praseodymium Project in the Northern Territory.

Arafura is now preparing to outline details of a capital raising, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 20th February 2017, or earlier if an announcement is made to the market.

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Thu, 16 Feb 2017 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173226/arafura-resources-to-lift-cash-position-on-back-of-stronger-share-price-173226.html
<![CDATA[News - Arafura Resources gets cash boost for neodymium project ]]> https://www.proactiveinvestors.com.au/companies/news/171111/arafura-resources-gets-cash-boost-for-neodymium-project-171111.html The receipt of these funds brings the total cash receipts from the government’s rebate incentive to $35.2 million. Arafura’s current cash reserves stands at $9.8 million.

Last month, the company successfully completed the beneficiation flowsheet piloting for the Nolans neodymium/praseodymium project.

Arafura is expected to report confirmatory data relating to grade and recovery, and iron and aluminium rejection, in the first quarter of 2017 on receipt of validated assays.

The pilot plant’s success, including materials handling and equipment performance data, will be utilised for detailed design and final feasibility.

The company will utilise the tax refund cash towards final feasibility activities in 2017, as it positions itself to become a key supplier into the growing market for neodymium.

Neodymium is a critical component in super strong magnets which are essential for efficient operation of electric motors, a key enabler in the electric and hybrid vehicle industry.

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Wed, 04 Jan 2017 08:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171111/arafura-resources-gets-cash-boost-for-neodymium-project-171111.html
<![CDATA[News - Arafura Resources completes beneficiation pilot at Nolans ]]> https://www.proactiveinvestors.com.au/companies/news/170510/arafura-resources-completes-beneficiation-pilot-at-nolans-170510.html The beneficiation pilot plant is the first stage of Arafura’s final piloting of the Nolans process flow sheet.

The beneficiation piloting operation was completed during November-December at ALS Global’s facilities in Perth.

Arafura managed the program under advice from equipment manufacturers and independent engineering organisations.

The pilot plant’s success, including materials handling and equipment performance data, will be utilised for detailed design and final feasibility.

The pilot is expected to confirm previous bench scale results and sighter tests. The grab samples taken throughout the pilot operations would indicate whether this has been achieved.

The program has resulted in the production of a high-phosphate concentrate (HPC) from approximately 14 tonnes of phosphate-rich plant feed.

Arafura will report confirmatory data relating to grade and recovery, and iron and aluminium rejection, in the first quarter of 2017 on receipt of validated assays.

The company is now directing its attention to preparing for piloting of the phosphoric acid pre-leach process, using the beneficiation pilot concentrate as feed.

Arafura is well funded with a cash balance of $10 million as at 30 September 2016.

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Thu, 15 Dec 2016 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170510/arafura-resources-completes-beneficiation-pilot-at-nolans-170510.html
<![CDATA[News - Arafura Resources Ltd awarded major project status for Nolans ]]> https://www.proactiveinvestors.com.au/companies/news/166281/arafura-resources-ltd-awarded-major-project-status-for-nolans-71169.html Arafura Resources Ltd (ASX:ARU) has attained Major Project Facilitation (MPF) status with the Australian Government for its Nolans Rare Earths Project in the Northern Territory.

The MPF status will provide Nolans with tailored facilitation services to support a timely and efficient approval process.

This will include the coordination of all relevant Australian and Northern Territory government processes so that they occur, as far as practicable, simultaneously and without delay.

The Nolans Project joins 17 other significant development projects across Australia, including Shell’s Prelude FLNG Project, as the current recipients of MPF services.

The Nolans Project is expected to produce 14,000 tonnes per annum of total rare earth oxides (TREO) equivalent, over 20+ years mine life.

Importantly, the resource sits on the surface and remains open at depth, which makes it amenable to open cut mining at a low estimated cost of US$8.89 per kilogram of rare earth oxide.

The project has a total resource of 56 million tonnes containing 1.46 million tonnes TREO grading 2.6% TREO, 12% phosphate and 0.42% uranium.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 22 Sep 2016 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166281/arafura-resources-ltd-awarded-major-project-status-for-nolans-71169.html
<![CDATA[News - Arafura Resources Ltd lowers rare earth costs at Nolans ]]> https://www.proactiveinvestors.com.au/companies/news/148827/arafura-resources-ltd-lowers-rare-earth-costs-at-nolans-68702.html Arafura Resources Ltd (ASX:ARU) has been able to effect a reduction in projected operating costs in an independent engineering analysis of the Nolans Rare Earth Project in the Northern Territory.

Operating costs have been reduced to A$12.36 per kilogram of total rare earth oxides from the previous A$14.51 per kilogram.

The savings were identified from work in three key areas:
- Resizing of equipment identified in capital review studies;
- Process efficiencies resulting in less reagents; and
- Lower required work force.

These reduced operating costs help the project remain entrenched in the lowest quartile of the cost curve.

Further cost improvements will assist the company to advance and finance the project.

The Nolans project contains the elements neodymium and praseodymium, which have been resilient to recent price falls in rare earths due to their use in magnets.

These magnets are driving further efficiencies in hybrid and electric vehicles, wind turbines and electronic devices.

Arafura recorded a strong cash balance of $13.5 million at the end of March.

The company expects to lodge its Environmental Impact Statement with the Northern Territory Environment Protection Authority during the June quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 19 May 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148827/arafura-resources-ltd-lowers-rare-earth-costs-at-nolans-68702.html
<![CDATA[News - Arafura Resources receives $3.4M tax rebate ]]> https://www.proactiveinvestors.com.au/companies/news/148826/arafura-resources-receives-34m-tax-rebate-62812.html Arafura Resources (ASX:ARU) has received a tax rebate of A$3.4 million under the Federal Government’s Research and Development Tax Incentive Scheme.

This was in relation to development of its 100%-owned Nolans Rare Earths Project in the Northern Territory.

Earlier this month, it reduced operating costs at the project to US$11.22 per kilogram of rare earth oxides making its magnet-feed rare earths production cost among world’s lowest.

Capital costs are estimated at A$1,437 million inclusive of a 15% contingency.

The capital and operating cost estimates are based on a production target of 20,000 tonnes per annum of REO equivalent from Measured and Indicated Mineral Resources at Nolans Bore.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 09 Jun 2015 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148826/arafura-resources-receives-34m-tax-rebate-62812.html
<![CDATA[News - Arafura Resources banks $4.1M ]]> https://www.proactiveinvestors.com.au/companies/news/148825/arafura-resources-banks-41m--55140.html Arafura Resources (ASX: ARU) has received a $4.1 million tax refund for eligible research and development expenditure in relation to its Nolans Rare Earths Project in the Northern Territory.

The company has reduced operating costs by $4.88 per kilogram of rare earth oxides to $15.67/kg and capital costs by $504 million to $1,408 million.

This was based on a study completed by Lycopodium Minerals from data from the rare earth separation testwork completed at ANSTO in 2012.

Rare Earth Separation Plant capital and operating cost estimates have been completed while flowsheet optimisation programs are underway.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 22 May 2014 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148825/arafura-resources-banks-41m--55140.html
<![CDATA[News - Arafura Resources teams with China’s Shenghe Resources to develop NT rare earths project ]]> https://www.proactiveinvestors.com.au/companies/news/148824/arafura-resources-teams-with-chinas-shenghe-resources-to-develop-nt-rare-earths-project-47779.html Arafura Resources (ASX: ARU) has executed a key Memorandum of Understanding with Chinese rare earths producer Shenghe Resources Holding (SHA: 600392) to jointly develop the Nolans Rare Earths Project in the Northern Territory.

Securing Shanghai Stock Exchange-listed Shenghe, a 8.25 billion yuan (A$1.46 billion) industry leader in rare earths production and technology development, as a partner is a coup for Arafura, giving it a leg up towards financing and commercialising the project.

The deal with Shenghe will also provide momentum towards reducing capital and operating costs at the project.

Shenghe operates a rare earths processing plant in Leshan City and markets specialty products to international and Chinese based customers.

Under the agreement, the two companies will work together to achieve the following objectives:   
-    Shenghe to conduct scheduled reviews of the Nolans Project Definitive Feasibility Study which is being prepared by Arafura;
-    Upon successful completion of the definitive feasibility by Arafura, Shenghe will be provided with the opportunity to co‐fund the development of the Nolans Project;
-    Arafura and Shenghe to examine opportunities for the sale and distribution of rare earth products to Shenghe’s existing customers;
-    Arafura and Shenghe to continue to look for opportunities and initiatives to add to and build the strategic partnership to develop an international rare earths business; and
-    Negotiate a Framework Agreement to formalise the arrangements for the establishment of a long term strategic partnership.

Nolans has an Ore Reserve of 24 million tonnes at 2.8% rare earth oxides, 12% P2O5 and 0.02% uranium, enough to support a 22 year mine life.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 10 Sep 2013 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148824/arafura-resources-teams-with-chinas-shenghe-resources-to-develop-nt-rare-earths-project-47779.html
<![CDATA[News - Arafura Resources drilling Northern Territory rare earths target ]]> https://www.proactiveinvestors.com.au/companies/news/148823/arafura-resources-drilling-northern-territory-rare-earths-target-47168.html Arafura Resources (ASX: ARU) has started drilling of an extensive rare earths target that trends for at least 1.8 kilometres in a northerly direction about 500 metres northeast of its Nolans Bore deposit in the Northern Territory.

The 24 hole reverse circulation drilling program totalling 1,500 metres is designed to test for shallow mineralisation on EL 28473, close to where wide intervals of rare earths mineralisation were identified in reverse circulation drilling during 2011.

Notable results then included 28 metres at 2.6% rare earth oxides, 2.6% P2O5 and 0.36 pounds per tonne U3O8 from 92 metres and 23 metres at 1.8T REO, 2.7% P2O5 and 0.19 pounds per tonne U3O8 from 39 metres.

Field work has demonstrated that these drill intercepts occur at the southern end of an extensive coincident airborne geophysical-biogeochemical anomaly, which trends for at least 1.8 kilometres in a northerly direction.

The current drilling program is expected to be completed within the next three weeks.

Arafura's Nolans rare earth project is located in the Northern Territory of Australia, and recently announced that it is targeting capital cost reductions of between A$500 million and A$1 billion at the project - which could have the potential to help the company attract suitable finance.

The Technical Review and Optimisation Program with Chinese rare earths experts is also well underway. Initial beneficiation tests and results have been encouraging.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 26 Aug 2013 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148823/arafura-resources-drilling-northern-territory-rare-earths-target-47168.html
<![CDATA[News - Arafura Resources appoints new managing director ]]> https://www.proactiveinvestors.com.au/companies/news/148822/arafura-resources-appoints-new-managing-director-45679.html Rare earth company Arafura Resources (ASX: ARU) has made a change at the top with Gavin Lockyer the new chief executive officer and managing director, replacing Chris Tonkin.

Lockyer joined Arafura in June 2006 as its company secretary and chief financial officer, and brings a finance and operational resources background - along with a sound understanding of the rare earths industry and its participants.

Lockyer played a key role in establishing the company’s longstanding relationship with its major shareholder and strategic partner, East China Mineral Exploration and Development Bureau (ECE).

Arafura's Nolans rare earth project is located in the Northern Territory of Australia, and recently announced that it is targeting capital cost reductions of between A$500 million and A$1 billion at the project - which could have the potential to help the company attract suitable finance.

The company had $36.3 million in cash at the end of March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 18 Jul 2013 08:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148822/arafura-resources-appoints-new-managing-director-45679.html
<![CDATA[News - Arafura Resources terminates purchase agreement for Whyalla site in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/148821/arafura-resources-terminates-purchase-agreement-for-whyalla-site-in-south-australia-44716.html Arafura Resources (ASX: ARU) has terminated its land purchase agreement for the Whyalla site in South Australia after comprehensive investigative work confirmed it is no longer required.

This is part of the company’s goal of achieving $400 million in capital savings by relocating intermediate chemical processing for its the Nolans Rare Earths Project closer to the mine site in the Northern Territory.

Arafura added that this may also potentially include locating rare earths separation alongside established infrastructure at a suitable chemical precinct.

It is examining a number of potential sites for rare earths separation as part of a global site assessment study.

Nolans Bore has an Ore Reserve of 24 million tonnes at 2.8% rare earths oxide, enough to support a 22 year mine life.

In addition, an Inferred Resource of 21Mt is available for potential future conversion to Ore Reserves.

This is amendable to open cut mining and milling while requiring just standard beneficiation techniques.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 21 Jun 2013 13:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148821/arafura-resources-terminates-purchase-agreement-for-whyalla-site-in-south-australia-44716.html