Gina Rinehart-backed Arafura Rare Earths pressed play on a small equity raising on Wednesday morning, a day after it said it had lined up $US775 million ($1.167 billion) in debt funding for its Nolan critical minerals project in Northern Territory.Gina Rinehart’s Hancock Prospecting is Arafura’s biggest shareholder, with a 10 per cent stake. The company’s brokers, Canaccord Genuity and UBS, were offering shares at about 16¢, a discount to the 19¢ last traded price. Fund manager sources were told to expect a deal size in the order of $20 million, a sliver of the $US793 million that the company has flagged it would need. The details were yet to be finalised before market open.On Tuesday, Arafura said it had locked in a hefty debt package – despite a cooling investor sentiment for rare earths projects – with an average life of more than 12 years and ensures the company is funded through to the production of up to 4440 tonnes of neodymium and praseodymium a year.Arafura has agreements to supply rare earths to South Korean car makers Hyundai and Kia, Siemens Gamesa Renewable Energy, and GE
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Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $383.8M |
Open | High | Low | Value | Volume |
16.0¢ | 16.5¢ | 16.0¢ | $194.5K | 1.207M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
30 | 733050 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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16.5¢ | 743591 | 21 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
30 | 733050 | 0.160 |
118 | 6517624 | 0.155 |
91 | 3310791 | 0.150 |
26 | 1078773 | 0.145 |
22 | 3145889 | 0.140 |
Price($) | Vol. | No. |
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0.165 | 743591 | 21 |
0.170 | 996256 | 24 |
0.175 | 565463 | 12 |
0.180 | 967888 | 21 |
0.185 | 726668 | 16 |
Last trade - 16.10pm 27/08/2024 (20 minute delay) ? |
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