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Arafura Resources granted trading halt by ASX

The company is focused on developing its Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

Arafura Resources Ltd - Arafura Resources in trading halt ahead of further information relating to an ore reserve statement
Shares in the company last traded at 6.1 cents

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.

 

Quick facts: Arafura Resources Ltd

Price: 0.058 AUD

ASX:ARU
Market: ASX
Market Cap: $67.73 m
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Arafura Resources to meet with U.S. manufacturing association in D.C. and...

Arafura Resources Ltd (OTCMKTS:ARAFF) (ASX:ARU) CEO Gavin Lockyer tells Proactive Investors the Australian-based NdPr (Neodymium and praseodymium) exploration company is meeting with New York-based investors in New York, and with the National Association of Manufacturers, the largest...

on 02/25/2019

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