Arafura aims for A$3m in SPP
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.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation