Ann: Arafura launches A$20m placement and A$7m SPP, page-85

Interesting - with incredible drama here - well more than the usual - observation it is primarily by those only here for FID and SP bump on such. Over what exactly? OH yes a little financial raise that some - actually very few really had envisaged - to provide the funding security until equity closes AS ADVISED around 2 months ago - second half this year to be followed by FID.

Fact is ARU just closed a very, very significant part of financing being the debt component - now a 20+ million raise has overshadowed that - so frightening isn't it - Freddy Kruger type.

Personally I am impressed with progress - sleeping well as ever. As advised some 18 months ago managed have delivered 50% approx of the split between debt and equity - sensational given the challenges in securing mining funding. Management have delivered exactly what they said they would re debt and will do so with equity - just takes time and the remaining product is key along with the attraction of stage 2 for early entrant equity partners.
The massive financing required takes time and should they close equity by EOY - secured financing in 2 short years - yes dilution of course - look at Lynas journey for reference and their subsequent 10:1 share consolidation.
Listen to the language - "we will commence construction immediately on FID" - just for one example - why the extra 20 million "if even needed" - to prepare for immediate construction.

Gina is not throwing money away - she/team has a direct line to ARU - neither are all the combined debt providers and soon to be equity partners.

Gina has since increased her holding recently at none other than Lynas from 5% to 7+% - ARF are doing likewise. What message does that suggest? equity will be of no issue - it will just take time as the debt package did and our 3 new funds engaged to assist secure such equity will not come cheap - most likely up front payments of engagement.

Farewell traders - BTW the US - ASX I am aware of plus more perhaps hit record highs - again - just last week on your fearmongering to push people to sell so you can buy in low again for another crack at profiteering on FID and as above - the huge debt partners by global governments and companies are not getting stomach ulcers - god dam rampers - up and down to suit their agenda. Anyway bring on EOY and 3 years of construction.