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Volt Resources opens Share Purchase Plan for Namangale graphite

Shareholders can apply for up to $15,000 of new shares under the offer.
Volt Resources opens Share Purchase Plan for Namangale graphite
Volt remains focused on its Namangale graphite project in Tanzania

Volt Resources Ltd (ASX:VRC) has opened it Share Purchase Plan (SPP) to raise up to $1.5 million, with directors having the right to expand the raising if required.

Volt’s non-executive chairman, Asimwe Kabunga, and non-executive director, Matt Bull, have both agreed to sub-underwrite $300,000 each of the plan in the event of a shortfall.

Patersons is also providing an underwriting.

Shareholders can apply to up to $15,000 worth, with the price determined on a 20% discount to the volume weighted average price.

Graphite from the Namangale project is suitable for a wide array of expandable graphite applications.

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