Arafura Rare Earths Ltd, page-21

Holders remaining have contended with the kitchen sink being thrown at us - previously management knew of everything and were not disclosing a great deal - now transparency is clearly being restored. Yet I personally feel management are holding back some - GE for example in which they some time ago were happy to sign up on Nolan's power tech supplied by none other than GE - they are also happy to place the full 300USD million from Canada in the advised financial figures now standing at 775USD million - yet we see no GE binding off take!
Management have also advised (yes again) of project finance closure end of first quarter 2024 - they must have several key parts of that concluded in my view to achieve this - but they can not release to market until the final remaining off take and finance - which must also be almost complete - then they can deliver any number of critical progressive announcements.

One could speculate on much re shorting - giving time for BEOT - whatever. But this project needs to be delivered and management know such - I would suspect they are in discussions with Gov - as many are for a piece of the extra 2 billion allotted to critical minerals projects - the critical ones the gov advised are having difficulty securing finance - I would be dismayed if they were not and Gov would be listening and also asking some pretty demanding questions of ARU management - such as when and prove to us after considerable time you are worthy of further funding - that financial close is imminent on additional gov finance top up. The South Korean ann is another significant step forward - very close now. Will the shorts have a tip off is my only question?

I'm not concerned with current RE pricing although clearly as marc posted the relation to such and our sp is obvious - yet we have seen further large declines in RE pricing over past month and our sp appears to have bottomed and holding in the 19-20.5c range mostly - bottom in hopefully and only way is up soon - when they deliver significant announcements.