Arafura Raises AU$5.8 Million via Second Tranche of Placement; Seeks Additional AU$7 Million from Share Purchase Plan

MT Newswires Live09-06

Arafura Rare Earths (ASX:ARU) raised AU$5.8 million via the second tranche of its AU$20 million fully underwritten placement, according to a Friday filing with the Australian bourse.

Under this tranche, the minerals company issued approximately 36.3 million new fully paid ordinary shares. The first tranche involving the issue of 88.7 million shares was completed on July 25.

Additionally, Arafura is raising AU$7 million through a share purchase plan at the same issue price of AU$0.16. The offer has an option for oversubscription of up to AU$3 million. It will close on Sept. 9, with results to be disclosed Sept. 11.

Price (AUD): $0.16, Change: $+0.0020, Percent Change: +1.29%

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