Arafura: Quarterly Activities and Cashflow Report

ArafuraLogoApril 26, 2012 (Source: Arafura) — Highlights

Rare Earth Oxide samples produced from Nolans Bore

Customer analysis of samples underway

Major 52% resource upgrade to 46 million tonnes

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A$8 million raised in successful Share Purchase Plan

Customer and strategic investors visit Arafura facilities

Board and management restructure

Cost management and project review implemented

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Significant progress has been made through the quarter, the highlight being the announcement on 17 January that the Company successfully produced three separated Rare Earth Oxide ("REO")products from the Nolans Bore resource, at mini-pilot scale, in quantities sufficient for customer evaluation.

The three REO products developed at 99% Total Rare Earth Oxide levels are:

A mixed ‘Heavy’ REO product (Tb+Dy+Ho+Er+Tm+Yb+Lu+Y): ‘HRE’ oxide;
A mixed ‘Mids’ REO product (Sm+Eu+Gd): ‘SEG oxide’; and
A ‘Didymium’ REO product (Nd+Pr): ‘Nd/Pr oxide’.

 The production of separated REO products from Nolans Bore mineralisation and their provision to customers to be assessed for commercial acceptability represents a landmark achievement for Arafura and  the industry outside China.   Work continues on the separation of Cerium and Lanthanum and early bench-scale test work shows positive results. The targeted completion date for this work is the end of the second quarter.

On 12 March, Arafura announced  another significant event  to the market that the Nolans resource had been substantially upgraded by 52% to 46 million tonnes @2.5% REO, 11% P2O5, 0.41 lb/t U3O8.  Work streams in support of resource optimisation and mine planning are in progress.

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  1. O.k., so they finally managed to raise A$8 million. They need a whole heck of a lot more than that to keep going for long, let alone to get into production. Good luck convincing potential funders that the cerium and lanthanum can be sold for much, with Arafura being beaten to market by other firms.

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