Arafura Resources NL (ARAFF)

[Hockmir]

Arafura says Nolans project to move at 'full pace' after A$90m raising

By: Esmarie Swanepoel
28th October 2010

PERTH (miningweekly.com) – ASX-listed Arafura Resources on Thursday announced a A$90-million capital raising to advance its Nolans rare-earths project, in the Northern Territory.

The A$90-million would fund the activities at Nolans right through to the project financing stage and would also enable the company to assess production expansion potential from the resource, MD Steve Ward said.

“We can now move forward with the Nolans project at full pace,” he said in a statement.

The Nolans project would start production in 2013, and hosts an estimated 850 000 t of rare earth oxides, 3,9-million tons of phosphate pentoxide, and a further 13,3-million pounds of uranium.

Link to full article:

http://www.miningweekly.com/article/arafura-says-nolans-project-moves-at-full-pace-after-a90m-raising-2010-10-28