Talga Resources (ASX: TLG) is raising $1.48 million to complete preliminary economic assessments of its graphite projects in Sweden and advance its iron ore projects for potential divestment.
Notably, the company has already completed a $415,000 placement and has now launched a fully underwritten non-renounceable entitlement offer to raise $1.06 million.
Under the offer, the company will offer shareholders one new share for every three shares held at an issue price of $0.05 each.
The Entitlement Offer is lead managed and fully underwritten by Patersons Securities Limited
It had recently upgraded the graphite Resource at its Raitajärvi project by 500% to 307,300 tonnes.
This remains open at depth and along strike with only 25% of the electromagnetic conductor/graphitic unit tested to date.
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