Phosphoric Acid, Phosphates & Fertilizers Experts

ARAFURA NOLANS: Quarterly Activities Report

HIGHLIGHTS:

  • Positive results from phosphate extraction pilot plant (Phase 2)
  • Successful completion of bulk pre-leach pilot plant (Phase 3)
  • Environmental approvals process advances with follow up response to Nolans EIS Supplement
  • Detailed geochemical resource analysis identifies 66% of high-confidence resources is phosphate-rich material best suited to Nolans flowsheet
  • Sustained NdPr price increases achieved in 2017 with prices up 42% YTD
  • “Made in China 2025” strategy to result in significant growth in Chinese domestic demand for NdPr and NdFeB magnets
  • Increased corporate activity in the rare earth sector validates forecast structural changes in the demand supply profile for NdPr
  • Share Purchase Plan closes early, raising $3.1 million
  • Cash balance at end of reporting period $12.5 million, sufficient to complete Nolans pilot program

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