Arafura Rare Earths Market and Project Update
1/28/2026 | Australia
Arafura advances the Nolans rare-earth project while trading gains contrast with negative profitability and limited cash buffer.
Arafura Rare Earths Limited is advancing the Nolans rare-earth–phosphate deposit in Australia’s Northern Territory, targeting neodymium-praseodymium and mixed middle–heavy rare earth oxides for magnet and industrial markets.
Shares (REB.F) were last quoted at 0.1619 with a previous close of 0.1649 and an intraday range of 0.1563–0.1619. Bid/ask showed 0.1600 x 14,808,100 and 0.1620 x 24,225,700, with volume around 128,100. The 52-week range is 0.0711–0.3000. Market capitalisation is roughly 754 million, with enterprise value near 772 million and a 5‑year beta of 1.34.
Latest financial metrics show total cash of about 27.2 million, net loss (ttm) near 19.2 million, and levered free cash flow down about 32.6 million. Return on assets and equity are negative (around -7.8% and -13.1% respectively), price/book about 8.84, and debt/equity extremely low at roughly 0.16%. Trailing and forward P/E are not meaningful given negative earnings.
Performance has outpaced the S&P/ASX 200 over recent horizons, including a roughly 122% one‑year gain versus about 5.8% for the benchmark. The company, incorporated in 1997 and renamed in October 2022, is based in Perth.