Sign up Australia
Proactive Investors - Run By Investors For Investors

Volt Resources attracts further funding for graphite project in Tanzania

To complete the Stage 1 feasibility study and accelerate drilling.
coins inside a jar
Advancing product offtake discussions

Volt Resources Ltd (ASX:VRC) has received firm commitments to raise an additional $900,000 at $0.021 per share via a top‐up placement to sophisticated and professional investors.

The company’s recently completed share purchase plan had raised $2.338 million – the additional funds from the top-up placement takes total funds raised to over $3.2 million.

Volt will use the funds to complete the Stage 1 feasibility study and accelerate exploration and drilling programs at its flagship Bunyu Graphite Project in Tanzania.

Meanwhile, the company continues to advance product offtake discussions with China National Building Materials General Machinery (CNBMGM) and Guangxing Electrical Materials (GEM).

Product samples were sent to both CNBMGM and GEM to enable independent testing on the Bunyu Graphite product.

Significantly, positive initial product feedback was received from CNBMGM and final results from the test work program are expected to be received in the coming weeks.

Volt recently engaged Exotix Capital to undertake a Tanzanian bond issue to raise up to US$30 million in structured debt to fund the Stage 1 development.

READ NOW: Volt Resources appoints Exotix Capital to raise up to US$30 million

If successful, the proposed bond issue financing will ensure that project development funding will be undertaken with minimal equity dilution.

View full VRC profile View Profile

Volt Resources Ltd Timeline

Related Articles

drill rig at site
April 10 2018
The company's shares are trading about 8% higher intra-day, at 1.4 cents.
Eritrean flag
Thu
The company has already signed a binding offtake agreement with EuroChem for up to 100% (minimum 87%) of module I sulphate of potash (SOP) production.
lithium in periodic table
July 25 2018
Ironridge has an extensive West African and Australian exploration portfolio

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use