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Arafura Resources Ltd

Arafura Resources nears DFS completion for Nolans NdPr Project, undertakes capital raising

Arafura Resources Ltd (ASX:ARU) general manager exploration & development Richard Brescianini updates Proactive Investors on the company’s flagship Nolans Neodymium-Praseodymium Project and its underwritten $3 million share purchase plan.

"We're now moving into a critical phase - we'll be delivering our feasibility study to our board next month," Brescianini says.

He continues, "we're also in the throes of completing phases five and six of our flow sheet piloting program.

“Beyond that we’re heading into the financing stage for the project … and that financing stage of course is supported in part by our efforts around product offtake for both our NdPr product, other rare earths product and of course our phosphoric acid, or our merchant-grade acid product as well.”

Quick facts: Arafura Resources Ltd

Price: $0.09

Market: ASX
Market Cap: $89.67 m
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