Arafura shares rocket 60% on return to trading after major funding news

MotleyFool03-14

Arafura Resources Limited (ASX: ARU) shares came out of a trading halt and shot 60% higher on Thursday afternoon to 24 cents apiece. The share price skyrocketing comes on the back of news the Federal...

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The debt finance package includes a US$125 million limited-recourse senior debt facility made available through the A$4 billion Critical Minerals Facility , which is administered by Export Finance Australia .EFA will also provide a subordinated Standby Liquidity Facility  of up to US$200 million under the CMF to help manage any increases ","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"ILU.AU":"ILUKA RESOURCES LIMITED","LU1861217088.USD":"贝莱德金融科技A2","COF.AU":"CENTURIA OFFICE REIT","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","SLF.AU":"SPDR S&P/ASX 200 LISTED PROP","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","XAO.AU":"标普/澳交所 普通股指数","BK4166":"消费信贷","BK4588":"碎股","XJO.AU":"标普/澳交所 200指数","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK7122":"办公房地产投资信托","BK7095":"多种金属与采矿","XKO.AU":"标普/澳交所 300指数","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","BK4581":"高盛持仓","BK4504":"桥水持仓","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","CMF":"iShares California Muni Bond ETF","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","COF":"第一资本","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK7154":"办公室房地产信托","BK4516":"特朗普概念","EFA":"欧澳远东指数 ETF-iShares MSCI","ARU.AU":"ARAFURA RARE EARTHS LTD","BK4585":"ETF&股票定投概念","BK4162":"人寿与健康保险","SLF":"永明金融"},"translate_title":"重大融资消息传出后，Arafura股价恢复交易后飙升60%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XAO.AU":1,"SLF.AU":1,"SLF":1,"ARU.AU":1,"ILU.AU":1,"EFA":1,"CMF":1,"COF":1,"COF.AU":1,"XKO.AU":0.74,"XJO.AU":0.74},"content_text":"Arafura Resources Limited (ASX: ARU) shares came out of a trading halt and shot 60% higher on Thursday afternoon to 24 cents apiece. \nThe share price skyrocketing comes on the back of news the Federal Government has conditionally approved a US$533 million debt finance package to support Arafura's flagship project. \nThat's the Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory. NdPr is used in electric vehicles (EVs). \nArafura shares have since slipped slightly to 22 cents per share, up 49.66% for the day.\nThe ASX rare earths developer returned to trading shortly after it released a statement to the market. \nLet's review the details.  \nArafura shares on fire amid massive government support\nThe debt finance package includes a US$125 million limited-recourse senior debt facility made available through the A$4 billion Critical Minerals Facility (CMF), which is administered by Export Finance Australia (EFA). \nThere's also A$150 million in limited-recourse senior debt facilities from the Northern Australia Infrastructure Facility (NAIF). Both facilities have a 15-year tenor.\nEFA will also provide a subordinated Standby Liquidity Facility (SLF) of up to US$200 million under the CMF to help manage any increases in capital expenditure and operating costs during the project's ramp-up. \nEFA also has conditional approval to provide further funding of up to US$75 million on its Commercial Account to participate in the ECA-covered tranches and Cost Overrun Facility (COF). \nNAIF has agreed to provide additional funding of up to A$50 million via a proportion of the COF.\nCompany says more funding to come \nArafura said the government support was part of a broader financing package it has been seeking. \nThe company says it currently has indicative interest from international and commercial financiers for a further US$550 million of senior debt facilities.\nBiggest critical minerals investment to date\nAs we reported earlier today, this is the Labor Government's largest single financial commitment in the critical minerals sector. \nIt brings taxpayers' exposure to rare earths mining and processing to more than $2 billion. \nPreviously, the government has supported the development of the Eneabba project owned by Iluka Resources Limited (ASX: ILU) in Western Australia.\nArafura share price snapshot \nArafura shares have fallen 59.5% over the past year. \nBy comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) has increased by 10.9%.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2419191486"}