The raise price is anyone's guess. If there are more cornerstone announcements leading up to FID and the world continues to seek REE ex-China, the raise could be around 40c. Purely speculating of course :)
In the $200M NRFC Equity Ann, it was stated that:
"At the NRFC’s election during the Conversion Period, the Convertible Notes will convert into fully paid ordinary shares in Arafura (Shares) at a fixed conversion price which will represent a 40 per cent premium to the Reference Price, which...
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