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.
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.