Arafura’s Nolans Project Set to Produce in 2019

Arafura Resources Ltd. (ASX:ARU) released the Nolans Development Report, which is aimed at providing a “comprehensive update” on the company’s Northern Territory-based Nolans project. It will ultimately form the backbone of a definitive feasibility study.

Highlights include:

• Production scheduled to commence in 2019
• Report reinforces robust Project economics on conservative assumptions
• NPV of A$2 billion on an after tax basis at a 10% discount rate
• IRR of 21.4% on an after tax basis
• Production target of 20,000 tonnes of REO equivalent per annum underpinned by Measured and Indicated Resources

Gavin Lockyer, managing director of Arafura, commented:

Our Development Report draws attention to the commercial appeal of the Nolans Project and is testimony to the tremendous efforts of the Arafura team and our partners to de-risk the Project’s path to production.

Today’s release ensures that all stakeholders are across the milestone achievements being made on the Project.

This is a strategically important report for Arafura that supports our offtake and funding discussions with a number of parties.

Click here to read the full Arafura Resources Ltd. (ASX:ARU) press release.