Shares in
Arafura Resources Limited(ASX: ARU) are soaring in early trade today after the company unveiled its Nolans Project’s feasibility study.
The Arafura share price is up 11.1% at the time of writing, trading at 20 cents apiece.
Nolans is a neodymium-praseodymium (NdPr) project, located in the Northern Territory. It’s 100% owned by Arafura.
Let’s take a look at the project’s feasibility.
Nolans Project
The Nolans Project will include a mine and processing plant, as well as other related infrastructure. It will mine NdPr and produce NdPr oxide on-site.
The feasibility study found Nolans has a mine life of 38 years and the ability to produce 4,440 tonnes of NdPr oxide each year.
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Arafura Resources Limited (ASX:ARU) (OTCMKTS:ARAFF) (FRA:REB) focused its efforts on product offtake and project funding at the Nolans Neodymium-Praseodymium (NdPr) Project during the six months ending December 31, 2020 and in 2021, continued to advance offtake discussions with potential customers.
With the assistance of European advisors, Arafura continues to advance its rare earth product offtake arrangements with parties in Europe, Japan, South Korea, the USA and China, and for phosphoric acid product with parties in India.
There is strong alignment between the Nolans project and the Australian Government’s critical mineral initiatives.
Arafura received strong endorsement of Nolans from the Territory Economic Reconstruction Commission (TERC) to advance debt funding opportunities with EFA and NAIF.
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