Proactive Investors - Run By Investors For Investors

Arafura Resources has capital raising news pending, granted trading halt

The company’s securities are in a trading halt until Thursday, June 20, or when an announcement is made.
Action in a stock exchange
Arafura’s flagship project is the Nolans Rare Earths Project in the Northern Territory

Arafura Resources Ltd (ASX:ARU) has a capital raising announcement pending and has been granted a trading halt by the ASX.

This trading halt will remain in place until the beginning of trade on Thursday, June 20, or when an announcement is made to market, whichever occurs earliest.

The securities of Arafura last traded on Monday at 12.5 cents.

Arafura managing director Gavin Lockyer spoke to Proactive Investors earlier this month about US-China trade tensions which have put the spotlight on Australia’s rare earth companies.

Lockyer said Arafura was not sitting back and waiting to see what happened but had an active plan to capitalise on the opportunities being created.

READ: Arafura Resources posts high-grade tungsten and copper results from drilling and XRF analysis at Bon

He added the company was looking for investment from non-Chinese organisations after completing a feasibility study for its Nolans Rare Earths Project this year.

In May Arafura delineated tungsten grades of up to 0.61% as well as high-grade copper in drill samples from the Samarkand prospect at its Bonya Tungsten Project in the Northern Territory.

The drilling comprised 2,184 metres of reverse circulation (RC) drilling on the Samarkand, Jericho, White Violet and Tashkent deposits as well as about 200 metres of trench sampling across each of the Marrakesh and Tashkent deposits.

READ: Arafura Resources’ rare earth project has significant catalysts in the current year: Patersons

View full ARU profile View Profile

Arafura Resources Ltd Timeline

Related Articles

1547726049_zinc-periodic-3.jpg
January 17 2019
Constantine Metals has a broad portfolio of assets in Alaska and Ontario
Zambia
Wed
Executive chairman, Nick von Schirnding, said the Cheyeza and Lumbeta anomalies discovered at Zamsort are a “potential game changer"
graphene
April 03 2019
As its name indicates, graphene is extracted from graphite, the material used in pencils

© 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