I've read this numerous times now, and Aru's required capital expenditure has risen dramatically...
Bell Potter dated, 26-7-24
Arafura Rare Earths has secured total debt support of US$1,055m comprising conditional support for up to US$775m in senior debt, a further US$80 of cost overrun facilities, and US$200m in standby liquidity, explains Bell Potter.
The analysts point out management's focus is now on securing US$793m in equity financing to finance development of the Nolans project
The Speculative Hold rating is retained, and the broker's target is reduced to 17c from 19c due to a $20m placement at 16cps and management's revised project economics for Nolans.
Arafura Rare Earths Ltd, page-1194
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