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Kibaran Resources increasing cash position for Tanzanian graphite

Kibaran Resources increasing cash position for Tanzanian graphite

Kibaran Resources (ASX:KNL) is focused on its world-class Epanko graphite assets, located in Tanzania.

The company has received in-principle debt financing support by a German Government Loan Guarantee (UFK) up to US$40 million.

A Bankable Feasibility Study outlined a Pre-tax NPV of US$197.5 million.

Longterm strategic offtake and sales agreements are in place, including ThyssenKrupp for 20,000tpa, European trader for 10,000tpa and Sojitz Corporation.

Kibaran is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 22nd February 2016, or earlier if an announcement is made to the market.


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