- Arafura Resources (ARU) enters a trading halt regarding an upcoming capital raising
- The company will remain in the halt until June 24 or when more details regarding the raise are released, whichever occurs first
- On June 18, Arafura received a without commitment letter of support from the Northern Australia Infrastructure Facility for a proposed senior debt facility
- Arafura’s proposed debt facility would form part of a $100 million funding package for the Nolans Rare Earth Project
- Shares in Arafura last traded at 17 cents on June 21
Arafura Resources (ARU) has entered a trading halt regarding an upcoming capital raising.
The company will remain in the halt until June 24 or when more details regarding the raise are released, whichever occurs first.
Arafura is yet to disclose how much it intends to raise or what it will use the funds for once received.
On June 18, Arafura received a without commitment letter of support from the Northern Australia Infrastructure Facility (NAIF) for a proposed senior debt facility.
The NAIF was established by the Australian Government to facilitate the development of infrastructure in Northern Australia via debt funding.
It aims to generate community benefits in the region with a focus on Indigenous engagement.
Arafura’s proposed debt facility would form part of a funding package for the Nolans Rare Earth Project in the Northern Territory.
The debt facility will allow Arafura to take out a loan of up to $100 million over a maximum 15-year term.
Shares in Arafura last traded at 17 cents on June 21. The company has a $199 million market cap.