Arafura Resources receive commitments to raise AU$41.5 million via placement

Arafura Resources Limited (ASX: ARU) announced that it had received firm commitments from Australian and overseas institutional and professional investors to raise AU$41.5 million via a placement. The placement comprised the issue of approx. 156.7 million fully paid ordinary shares at an issue price of AU$0.265 per new share, with one free attaching option for every two new shares subscribed for and exercisable at AU$0.34 with 18 months expiry. The issue price of AU$0.265 represents a 17.2% discount on the closing price of Arafura shares on 2 August 2022.

The fund raised via the placement will be used to increase the development of the Nolans Project by:

• Completing front-end engineering and commencement of detailed design; and
• Commencing tendering activities for main construction contracts.

The placement will also fund the general working capital requirements, including ongoing marketing and sales negotiations in the US, Asia, and Europe and financing activities.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au