Arafura Secures Funding and Advances Nolans Project

Arafura Resources Limited (AU:ARU) has released an update.

Arafura Rare Earths Limited has made significant strides in securing funding for its Nolans Project, successfully completing a debt funding strategy with conditional approvals for over US$1 billion. The company also raised A$24.6 million through a capital raise and share purchase plan, positioning itself to focus on equity strategies and prepare for a final investment decision expected next year. Additionally, Arafura signed a Memorandum of Understanding with the Saskatchewan Research Council to enhance the global magnet value supply chain.

For further insights into AU:ARU stock, check out TipRanks’ Stock Analysis page.