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Arafura Resources

Publié le 22 septembre 2015

FWL: Deed of Cancellation

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FWL: Deed of Cancellation

22 September, 2015

DEED OF CANCELLATION - YALYIRIMBI IRON PROJECT

Today Ferrowest Limited ("Ferrowest") has entered into a Deed of Cancellation with Arafura Resources Limited ("Arafura"), Ferrowest's joint venture partner in the Yalyirimbi Iron Project and owner of the underlying mineral tenement, in order to formally unwind Ferrowest's participation in the project.
This includes, among other things:

Transfer of the 51% of the shares in Arafura Iron Pty Ltd held by Ferrowest back to Arafura;

Resignation of the two Ferrowest nominee directors from the Arafura Iron Pty Ltd Board;

Transfer of all project information and samples back to Arafura;

Withdrawal of Ferrowest as manager of the mineral tenement on which the project is based;

Withdrawal of the tenement environmental bond and settlement of money owed by

Ferrowest to Arafura; and

Complete cancellation of all future Ferrowest rights in the project and the tenement on which it is based.

As previously announced to the market, the Board of Ferrowest made the decision to write off the carrying value of its interest in the Yalyirimbi Iron Project at 30 June 2015 in the Company's accounts. The project proposed a 1.5 million tonne per annum haematite mining and concentrating operation but given the location of this project in central Australia, it was highly sensitive to future iron ore pricing. At the current low iron ore prices, which have persisted now for an extended period, the project would not be viable. It also seemed unlikely that this situation would change for some time into the future, hence the decision of the Company to write off the value of the project.
Some of the administrative processes involving the Northern Territory Mines Department may take a period to complete but the last of these should be complete by no later than 30 November 2015.

For further information please contact: Brett Manning - Managing Director +61 8 9277 2600

Lire la suite de l'article sur www.noodls.com

Arafura Resources

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CODE : ARU.AX
ISIN : AU000000ARU5
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Arafura Res. est une société d’exploration minière d'or et de nickel basée en Australie.

Arafura Res. est en développement de projets d'or, de nickel, de rare earth et d'uranium en Australie, et détient divers projets d'exploration en Australie.

Son principal projet en développement est NOLANS BORE en Australie et ses principaux projets en exploration sont AILERON / REYNOLDS RANGE, JERVOIS, KURINELLI, MT PORTER / FRANCES CREEK et HAMMER HILL en Australie.

Arafura Res. est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 158,6 millions AU$ (114,5 millions US$, 100,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 20 avril 2007 à 2,16 AU$, et son plus bas niveau récent le 19 décembre 2014 à 0,04 AU$.

Arafura Res. possède 546 900 032 actions en circulation.

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Présentations des Compagnies de Arafura Resources
20/05/2008The Nolans Project
Nominations de Arafura Resources
08/12/2008today - Appointment of Chairman - Mr. Ian Laurance
Projets de Arafura Resources
01/12/2010(Nolans Bore)Presentation of the Nolans Project
18/11/2008(Nolans Bore)NOLANS RARE EARTHS PROJECT, NORTHERN TERRITORY
12/11/2008(Nolans Bore)Nolans Resource Upgrade
05/08/2008(Nolans Bore)New Mineralization at Nolans returns outstanding assays.
11/07/2008(Nolans Bore)NOLANS PROJECT RARE EARTHS MARKET UPDATE
04/07/2008(Hammer Hill)Hammer Hill update 040708
20/05/2008(Hammer Hill)Sulphine mineralisation intersected in early drilling
Communiqués de Presse de Arafura Resources
14/07/2016Response to ASX Price Query
28/06/2016BRR Webcast - Nolans Review and Major Improvements
20/06/2016AHK: Progress Report
25/05/2016Webcast Nolans OPEX and EIS Update
23/05/2016Nolans Environmental Approvals Update
08/01/2016RE Separation MOU Executed with OCI
23/12/2015$3.0 Million R&D Tax Refund Received
25/11/2015RXL: Drilling to Commence at Bonya
19/11/2015Chairman's Address 2015 AGM
19/11/2015AGM 2015 Presentation
29/10/2015Increase Nolans Project Mineral Resources
27/10/2015Quarterly Activities & Cashflow Report
09/10/2015Notice of Annual General Meeting/Proxy Form
06/10/20152015 Annual Financial Report
22/09/2015FWL: Deed of Cancellation
17/09/2015Annual Report to shareholders
17/09/2015Appendix 4G - Corporate Governance
27/07/2015AHK: Frances Creek MMP Approved
27/07/2015Quarterly Activities & Cashflow Report
03/03/2015Initial Director's Interest Notice
18/02/2015Half Year Accounts
16/02/2015Change of Share Registry Notification
05/11/2014Letter to Shareholders
30/10/2014Quarterly Activities and Cashflow Report
30/10/2014FWL: 51% of Arafura Iron Pty Ltd Secured
23/10/2014NT Major Projects Presentation
20/10/2014RXL: Exceptional Copper Assays From Bonya Mine Drilling
25/11/2013BRR Webcast- Arafura AGM
08/11/2013Mulga Drilling Results
31/07/2009Quarterly Report
15/06/2009Settlement of Chinese Share Subscription List
29/05/2009FIRB Approval for Nolans Project
19/02/2009Strategic Investment in Arafura Resources Ltd
26/08/2008Incitec Heads of Agreement
16/05/2008Phosphate Project Recoveries
28/04/2008Releases Flotation Demonstration Results
09/07/2007Releases Outstanding REO and Uranium Results
19/03/2007Nu Power lists at 300% Premium
14/03/2007releases Nolans Phosphate Test Work
01/03/2007releases Lagoon Creek Results for March 2007.
16/02/2007Results of General Meeting
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