Australia's Arafura hits over 2-month high on $123 mln funding

Arafura Rare Earths

15/01/2025 24:03

** Shares of Arafura Rare Earths  ARU.AX  rise 21.7% to
A$0.14, their highest level since Nov. 6
    ** The rare earths miner says it received A$200 million 
($123.76 million) funding investment from the National
Reconstruction Fund Corporation
    ** Adds funding is to support the development of co's Nolans
project
    ** 9.8 mln shares change hands vs the 30-day average of 4.2
mln
    ** Stock rose as much as 30.4% earlier in the day, marking
its biggest intraday gain since March 14
    ** Stock up 23.9% this year, including current session's
move, vs a 0.3% increase in the ASX 200 index  .AXJO 


($1 = 1.6160 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))