Arafura Resources Ltd (ASX:ARU) has been granted a trading halt ahead of an announcement providing additional information and overview of material assumptions underlying the company’s reserve statement.
The trading halt will be in place until the beginning of trade on Tuesday March 17 or when an announcement is made to market, whichever occurs earliest.
Nolans NdPr ore reserve increase
Arafura recently updated its JORC ore reserve for the flagship Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.
The update featured a 54% increase to 29.5 million tonnes grading 2.9% TREO and 13% P2O5 including 26.4% NdPr enrichment.
Using the processing design envelope from the definitive feasibility study (DFS) the ore reserves support production over 33 years, an increase of 10 years over the 23-year base case in the DFS.