Proactive Investors - Run By Investors For Investors

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

The company’s securities will remain in a halt until Tuesday, April 16, 2019, or when an announcement is released to the market.
Arafura Resources has capital raising news imminent and is in a trading halt
Arafura is focused on rare earth elements with its flagship being the Nolans project in the Northern Territory

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.

View full ARU profile View Profile

Arafura Resources Ltd Timeline

Related Articles

1533661405_Alvito2.jpg
August 08 2018
The company recently drilled 18 holes, totaling 2,437.5 metres in eight separate prospect areas at its Alvito Iron Oxide Copper-Gold (IOCG) project
Gold
March 20 2019
The company aims to unlock the potential of Japan’s gold resources
1547726049_zinc-periodic-3.jpg
January 17 2019
Constantine Metals has a broad portfolio of assets in Alaska and Ontario

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use