Shares in Arafura Resources Limited (ASX:ARU) surged 25 per cent yesterday after the rare earths developer said it had produced its first rare earth oxide samples from its Nolans Bore resource in the Northern Territory.
The company says the three new samples will be given to potential customers to assess for the purposes of progressing off-take agreements.
Arafura advises that its marketing program is in full swing and its target customers are expected to visit Australia next month.
Shares in Arafura Resources surged 25 per cent yesterday, closing at $0.475 and prompting a speeding ticket from the Australian Secutities Exchange (ASX).
In the 2011 financial year Arafura Resources booked a net loss of $7.5 million.
