sspp announcement out

Arafura raises A$5.58 million in Shareholder Share Purchase Plan The board of Arafura is pleased to announce that the Shareholder Share Purchase Plan (“SSPP”) that was recently offered to all Arafura shareholders has raised A$5.58 million dollars.
The offer has marginally exceeded the maximum amount allowable to be issued under ASX Listing Rule 7.4. The board are in the process of reconciling all applications and will then finalise the allotment of shares to all participants.
The Company has implemented the issue in accordance with its terms and the terms of Class Order 02/831. The Class Order provides that a registered holder may only participate to a maximum of $5000 worth of shares under an SSPP in any 12 month period. As required by the Class Order, the application form includes a declaration deemed to be made by the applicant that he or she has not participated in excess of that limit.
The Board thanks its shareholders for there overwhelming support in the SSPP which provides Arafura with a strong cash position to aggressively pursue the exploration and development programs of the companies Rare Earths, Uranium and Gold Projects.
The exploration programme for 2006 is scheduled to commence in May with drilling at Kurinelli.

Cheers TCG