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Arafura Resources prepares to raise capital, shares halted

Shares last traded at 7.5 cents before the company entered a trading halt.
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Yesterday the company revealed it proposes to build its Separation Plant onshore

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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The company expects to finish its definitive feasibility study for the Northern Territory project in December 2018.

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