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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16.5¢ |
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Mkt cap ! $401.8M |
Open | High | Low | Value | Volume |
17.0¢ | 17.0¢ | 16.5¢ | $260.6K | 1.543M |
Buyers (Bids)
No. | Vol. | Price($) |
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76 | 3367906 | 16.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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17.0¢ | 875473 | 22 |
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No. | Vol. | Price($) |
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76 | 3368271 | 0.165 |
93 | 4200801 | 0.160 |
46 | 4374552 | 0.155 |
62 | 3958827 | 0.150 |
25 | 1611287 | 0.145 |
Price($) | Vol. | No. |
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0.170 | 875473 | 22 |
0.175 | 1016448 | 19 |
0.180 | 1952312 | 27 |
0.185 | 1168693 | 19 |
0.190 | 1150921 | 20 |
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