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Arafura Rare Earths Ltd (ASX:ARU)

ALERT: Price-sensitive ASX Announcement for ARU
Current share price for ARU : $0.180 -0.13 (-41.94%)+
Announcement
Release
22 May 2026 9:27AM
Price at Release
$0.310
Full Release
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Summary
Arafura Rare Earths Ltd announced the launch of a A$350 million institutional placement and a A$25 million Share Purchase Plan (SPP) to fund the development of the Nolans Rare Earths Project in Australia. The placement will be conducted in two tranches with the largest shareholder, Hancock Prospecting, committing A$85 million. The efforts aim to raise a total of approximately A$375 million before costs. This capital raising follows a final investment decision to develop the Nolans Project and substantial support from Export Finance Australia and other financial entities. The funds will be used for the construction and development of the Nolans Project, provision for cost overruns, and corporate expenses. Arafura has secured approximately 93% of its binding offtake target, aiming to supply NdPr Oxide to Germany/Europe.
Key Points
  • Arafura launches A$350 million placement and A$25 million SPP.
  • Placement conducted in two tranches with Hancock Prospecting committing A$85 million.
  • Funds to be used for Nolans Project development and corporate expenses.
  • Project supported by Export Finance Australia and other financial entities.
  • Arafura secured 93% of its binding offtake target for NdPr Oxide.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.