Shares of Arafura Rare Earths (ASX:ARU) jumped more than 77% after it was shown that the company would receive an A$840 million investment from the Australian government to create a combined mine and refinery for key renewable minerals.
Stock trading was halted ahead of the announcement, with shares trading at 14. 75 cents. Once the news was officially communicated to the ASX (it leaked from political resources in Canberra on Wednesday night), the stock rose, touching the day’s high of 28 cents before finishing. to 26 cents, an increase of 76. 87%.
As impressive as the gain is, it is still less than part of the 52-week high of 56 cents reached in February 2023.
The deal follows Wednesday’s announcement of the government’s stake in a $550 million investment for lithium mining company Liontown Resources to reach first production at its Kathleen Valley spodumene allocation in Western Australia.
The Arafura Nolans neodymium-praseodymium open pit mine and related processing assignment are located 135 kilometres north of Alice Springs and have an estimated mine life of approximately 38 years.
The company’s largest shareholder is Hancock Prospecting Ltd. , controlled through Australia’s richest woman, Gina Rinehart, with a 9. 1% stake. Hancock is Liontown’s largest shareholder with 19. 9%.
Nolans has an estimated mineral resource of 56 million tonnes grading 2. 6% of total rare terrestrial oxides and 11% phosphate (P2O5), which are found 215 metres below the surface.
The news is also that the shareholders who participated in the $20 million fundraise last December are in the money.
The company raised $25 million (up from an initial $20 million) by placing nearly 156 million new shares at 16 cents each.
In addition, it will have a flexible allocation option for two new shares subscribed from the fully subscribed institutional placement.
The new options, of which approximately $62. 5 million are available, will have a restructuring value of 22. 5 cents and will mature 18 months from the date of issuance.
Arafura is the product of the placement to continue working on Nolans while the new package is finalized.
Nolans will sign up for the first assignment and mine: Lynas, which owns the massive Mount Weld deposit near Kalgoorlie and is expanding its processing operations there and in Malaysia. He was awarded a small grant from the Canberra Critical Materials Financing Fund.
Iluka has secured a $1. 25 billion investment to build its new processing operation in Eneabba, Washington, where it has been mining and storing heavy beach minerals for years.
The Iluka operation will be the nation’s first incorporated rare earth refinery and has entered into an agreement to contract processed rare earth from its Browns Range deposits in Washington state.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.