Walkabout Resources Ltd (ASX:WKT) continues to attract investment as shareholders support the company's focus on the Lindi Jumbo Graphite Project in Tanzania.
Walkabout has now closed a fully-subscribed placement to raise $1.555 million at $0.0711 per share.
Funds will be used for engineering and procurement work at Lindi.
The placement follows a strategic investment from Jinpeng Mining.
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Trevor Benson, chairman, commented on the placement:
"We thank the shareholders for their continued support and to Jinpeng, our new major shareholder, for their support and for endorsing the quality and economics of the Lindi Project."