American Rare Earths Ltd (ARRNF)

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American Rare Earths secures key exploration permits and concludes capital raise

With all shares now issued, ARR has raised $6.1 million and says it is sufficiently capitalised to bring forward planned exploration activities for the La Paz and Halleck Creek projects.
American Rare Earths Ltd (ASX:ARR) has secured the green light for a series of exploration permits at its flagship rare earth plays in Arizona and Wyoming.

With the permits in tow, the specialty metal explorer can undertake ground-disturbing activities at the La Paz and Halleck Creek assets.

With all regulatory permits and approvals received, the company now has a clear pathway to advance drilling activities and further develop the exploration programs at what it considers two key rare earth projects.

The company has also revealed that its recently announced capital raising with Fidelity International has been completed, bringing the investor’s stake up to 9.94%.

With all shares now issued, ARR has raised $6.1 million and says it is sufficiently capitalised to bring forward planned exploration activities for the La Paz and Halleck Creek projects
“Unlock value sooner”
Speaking to the development, American rare earths managing director and CEO Chris Gibbs said: "Timing could not be better with the recent capital raising efforts and obtaining the permits to commence drilling at our key projects.

“The opportunity to bring Fidelity onto the register means we can accelerate the planned scope of works and unlock value sooner.

“We are delighted to have the confidence of a high-quality, long term institutional investor such as Fidelity to support us on our journey to build the next major rare earth and critical minerals company.”

https://www.proactiveinvestors.com/companies/news/969384/american-rare-earths-secures-key-exploration-permits-and-concludes-capital-raise-969384.html