Hancock Prospecting will throw A$60m of support behind ARULtd's capital raise to advance its Nolans RareEarths project mining investment resources Australia
PERTH - Rare earths developer Arafura Rare Earths is looking to raise A$121-million through a share placement and share purchase plan to accelerate the development timeline of its Nolans neodymium-praseodymium project, in the Northern Territory.
In addition to the share placement, Arafura will also undertake an SPP targeted at raising a further A$12-million. Eligible shareholders will be able to subscribe for up to A$30 000 of additional shares in the company, also at a price of 37c each.
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