Arafura Resources announced that the ongoing Bankable Feasibility Study for its 100% owned Nolans Project in Northern Territory, Australia, has yielded positive results regarding the relative quantities, qualities and recovery rates of extracting rare earths and phosphoric acid.
Arafura Resources Limited announce that the Board of Directors has unanimously endorsed Chinese Group East China Mineral Exploration & Development Bureau’s (“ECE”) proposed investment to provide a further A$14.4 million and increase its holding in Arafura to 25%. “ECE is supportive of Arafura’s management and current operating plans, and has the financial backing to help secure the future of the company and its 100%-owned Nolans rare earths project as well as exploration activity at Arafura’s other projects,” Mr. Laurance said. “ECE will make an excellent long-term partner.”
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