Arafura Resources (ARU)

Shares / Stock Code

ARU

Stock Exchange / Sharemarket

ax

Arafura Resources (ARU) is a mineral explorer and developer principally focused on gold, uranium, phosphate and rare earth minerals exploration. The Company tenements are primarily held in Australia. ARU listed on the Australian Stock Exchange on November 5, 2003. The Company has a diversified portfolio of projects comprising Aileron Basin, Reynolds Range, Davenport West, Bonny Well, Frances Creek, Hammer Hill, Laterite, Bonya Creek and Mt Porter. Nolans project is the key project of the Company and is highly prospective for rare earths, phosphate and uranium. It is expected to be the largest mine project of the world having highest grade of its type.

Arafura Resources History

ARU has been engaged in the acquisition of tenements since 1984. It listed on the ASX on 5th November 2003. In April 2007, ARU was renamed to Arafura Resources Limited from Arafura Resources NL. Arafura Resources adopted its name from the Arafura Sea, which is the body of water located to north of Australia, between the Northern Territory and New Guinea. Arafura Sea originated from the Portuguese mare aurifera, which means ‘sea of gold’. The Company acquired the land as it was large, available, under-explored and prospective for known mineralisation. ARU carefully selected its portfolio of prospects mostly situated in regional proximity for ease of planning. This presented the Company with opportunities to support capital investors in the initial operations.

Arafura Resources 's sound structure and highly potential ground helped the Company to gain support from others. Before being listed, the Company had carried out significant geological and development work on granted areas. It made successful negotiations with the relevant Native Title Councils for acquiring exploration licences on a range of application areas. This subsequently enabled the Company to have either titled to or applications for approximately 12,000 km2 of highly potential region in the under-explored Northern Territory of Australia, at the time of listing. The Company’s current portfolio of projects include Nolans rare earths-phosphate-uranium project, Mt Porter and Kurinelli gold projects, Hammer Hill nickel joint venture with Mithril Resources Ltd and Jervois vanadium project.