Arafura Resources (ASX: ARU) has received a $4.1 million tax refund for eligible research and development expenditure in relation to its Nolans Rare Earths Project in the Northern Territory.
The company has reduced operating costs by $4.88 per kilogram of rare earth oxides to $15.67/kg and capital costs by $504 million to $1,408 million.
This was based on a study completed by Lycopodium Minerals from data from the rare earth separation testwork completed at ANSTO in 2012.
Rare Earth Separation Plant capital and operating cost estimates have been completed while flowsheet optimisation programs are underway.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.