Arafura Rare Earths Ltd, page-8

Depends on ones view either pessimistic or optimistic.
I am of the latter - particularly given what management have advised with timelines of March 2024 for financial close - with much advanced regarding remaining offtakes and financing I am more interested in the delivery of this by end of March as advised by the company. The next quarterly and key announcements prior will be of most importance factor for investment guidance - much can shift the SP positive very rapidly. Management can only control what they can - not the non ESG RE price manipulation by Beijing - Neither the interest rates (projected to begin to soften in 2024) - Neither the shorting levels - soon enough all the chat here will be of positive sentiment - the short position will pull back somewhat - the SP will respond accordingly.

Interestingly Hastings released some detailed info - of which one was on financing (perhaps following ARU'S detailed advice to market on financing situation) - they stated they are in further discussions with Gov re additional 2 billion financing announcement - ARU would have to be in same discussions given we are critical mine to refine - requiring considerable CAPEX and with the IP to potentially process other concentrate only producers - to reduce China supply of such. There is much more going on at pace now than any time in the past - thank you to the ex China supply urgency and the renewables demand - which will not be a vertical line up - but a staggered one through the adoption - massive shift to all renewables globally.