Sign up Australia
Proactive Investors - Run By Investors For Investors

Volt Resources lodges draft prospectus to raise US$40 million for Bunyu graphite project

Management expects stage I should be capable of producing about 20,000 tonnes per annum of high-quality graphite.
Picture of cash
The $40 million in financing will clear the way for possible first production in 2018

Volt Resources Ltd (ASX:VRC) will today lodge the draft prospectus for its US$40 million note issue.

The draft prospectus will be lodged with the Tanzanian Capital Markets and Securities Authority (CMSA) and the Dar es Salaam Stock Exchange (DES).

This news should be well received by investors, as following a review of the note issue it will be forwarded to potential investors in Tanzania, Uganda and Kenya.

Financing for Bunyu graphite project

Investment via the note issue will potentially provide Volt with a portion of the capital required to develop stage I of the Bunyu Graphite Project in Tanzania.

Management expects this should be capable of producing about 20,000 tonnes per annum of high-quality graphite products.

READ: Volt Resources Limited's Bunyu Graphite Project prepares for first production in 2018

Volt is undertaking the note issue in partnership with specialist investment bank Exotix Capital.

Orbit Securities has been appointed as the co-lead advisor and placing broker for the Tanzanian note issue alongside Exotix.

Graphite producers unlikely to be impacted by regulatory changes

Volt has been interrupted in developing the project because of concerns regarding regulatory changes to the mining industry in Tanzania.

However, it would appear that changes are unlikely to impact producers of industrial metals and that it will be more the precious metals and diamond sectors that are affected.

View full VRC profile View Profile

Volt Resources Ltd Timeline

Related Articles

map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
March 22 2018
Lithium and tungsten have been to the fore of late, but there are plenty of other strings to Premier African's bow
October 12 2018
The company is working with Ibaera Capital to develop its project and bring it into production.

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