https://www.engineeringnews.co.za

Arafura aims for A$3m in SPP

12th November 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Rare earths developer Arafura Resources will raise A$3-million through a share purchase plan (SPP) to advance its Nolans project, in the Northern Territory.

Eligible shareholders will be allowed to subscribe for up to A$15 000 worth of new shares in the company, with the new shares to be issued at 20% discount to the volume weighted average trading price over the five days before the date of issue.

Arafura said on Monday that the funds raised will be used to advance the Nolans project, as well as for general working capital.

The company is continuing to progress a definitive feasibility study at Nolans, and to work towards a final investment decision on the project.

The Nolans project, including the separation plant, is estimated to require a capital investment of $680-million. The Nolans project is expected to have a maximum mining rate of five-million tonnes a year for the majority of the mine life, with the steady-state beneficiation plant feed rate estimated at 525 000 t/y for the first 11 years of operation.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.769s - 140pq - 2rq
Subscribe Now