Arafura Resources Limited (ASX:ARU) has announced the Quarterly cashflow report for the quarter ended 31 December 2019. A few highlights from the announcement are as follows:
- The company has started tendering of the hydrometallurgical plant contract and commencement of pre-front end engineering and design works
- The drilling and metallurgical programs completed to potentially extend the Nolans mine life beyond 23 years.
- Arafura’s engagement with debt advisory groups and export credit agencies in progress with key groups in Japan, Germany, the USA and Australia
- The industry ministry of Japan secures US$423 million to diversify supplies of critical materials including rare earths.
- The company cash reserves of $22.93 million at 31 December 2019 and appointed Cathy Moises as non-executive director.
- Arafura Resources targeted Q1 CY2020 for completion of agreement with Talaxis Ltd.