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.