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Arafura Resources ( (AU:ARU) ) has provided an announcement.
Arafura Rare Earths Limited announced that it has been granted a waiver from ASX Listing Rule 7.3.9, allowing the company to proceed with its Share Purchase Plan (SPP) without excluding votes from shareholders who may participate in the SPP. This waiver ensures that eligible shareholders can vote on the resolution to approve the issuance of new shares under the SPP, which is part of a broader capital raising initiative. The decision is significant as it prevents a large portion of shareholders from being disenfranchised, thereby supporting the company’s efforts to raise capital effectively.
The most recent analyst rating on (AU:ARU) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on Arafura Resources stock, see the AU:ARU Stock Forecast page.
More about Arafura Resources
Arafura Rare Earths Limited is a company operating in the rare earths industry, focusing on the exploration and development of rare earth elements. These elements are crucial for various high-tech applications, including electronics and renewable energy technologies.
Average Trading Volume: 33,047,207
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$895.1M
Learn more about ARU stock on TipRanks’ Stock Analysis page.