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Arafura Resources chairman demonstrates faith in rare earth strategy with on-market purchases

The date of: 2020-12-02
viewed: 2

source:Proactive Investors Australia

The company has a world-class neodymium-praseodymium resource in Australia's Northern Territory.

Arafura Resources Ltd (ASX:ARU) non-executive chairman Mark Southey has demonstrated his faith in the company’s rare earth strategy with the purchase of shares in on-market transactions.

Southey acquired 90,000 direct shares at 10.8 cents per share in a direct interest and 72,500 shares at 10.5 cents per share in an indirect interest on November 27 and 30 respectively.

This increases the total number of securities held in the direct interest to 225,000 and in the indirect interest to 275,000 shares.

High-quality rare earth products

The company’s final rare earth oxide (REO) products from the Nolans project flowsheet piloting program have been validated by supply chain partners across the globe, including Europe, China and Japan.

Three REO products prepared at ANSTO Minerals were the culmination of processing of 15 tonnes of representative ore feed from the Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory.

Preparation of these products involved piloting of the project’s beneficiation, phosphate extraction, phosphoric acid production, rare earth extraction, rare earth processing and rare earth separation process stages to produce final NdPr oxide, middle and heavy rare earth oxide and cerium oxide products.



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