Surprised there was no discussion of Arafura's Korea EXIM bank US$150 million of debt financing for the Nolans Project on ASM threads - positive or negative re ASM - regards past Korean deal suggestions from the company.
It received a non-binding Letter of Interest from the Export-Import Bank of Korea, Korea EXIMbank (KEXIM), for the provision of up to US$150 million in debt financing for the Nolans Project, linked to the binding offtake arrangement in place between Arafura and Hyundai Motor Company and Kia Corporation for the supply of up to 1,500 tonnes per annum of NdPr oxide.
Not a huge contract of course, but continued Korean interest in Australian produced NdPr offtakes surely bodes well for ASM?
(I am recently long both ARU and ASM for full disclosure, but seems very relevant to ASM rather than any cross promotion - admittedly a small contract)
ASM Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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