logo-loader
Volt Resources Ltd

Volt Resources enters trading halt ahead of capital raising, Bunyu graphite development ongoing

The company is actively exploring funding options to progress the development of its Bunyu Graphite Project.

1563429155_1-shutterstock_226535503.jpg
Bunyu is 140 kilometres from the deepwater port of Mtwara

Volt Resources Ltd (ASX:VRC) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.

The halt will be in place until no later than the start of trading on Monday, July 22.

READ: Volt Resources secures US$1 million to progress Bunyu stage-one development funding process

Volt is focused on obtaining funding for stage-one development of its Bunyu Graphite Project in Tanzania.

Among the various development strategies Volt is pursuing are note/bond listings on both the Dar es Salaam exchange in Tanzania and the Stock Exchange of Mauritius.

Discussions are also continuing with North American and Asian institutions who have expressed strong interest in providing funding for the Bunyu stage I development.

READ: Volt Resources advances funding pathways for Bunya stage-one development

Bunyu’s stage-one development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700 tonnes of graphite products.

A key objective of stage one is to establish infrastructure and market position in support of the development of the significantly larger stage-two expansion project.

The projet is near critical infrastructure with sealed roads running through the project area and ready access to the deepwater port of Mtwara 140 kilometres.

Quick facts: Volt Resources Ltd

Price: $0.02

Market: ASX
Market Cap: $22.14 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Volt Resources Ltd named herein, including the promotion by the Company of Volt Resources Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Volt Resources strives to be leading natural flake graphite producer

Volt Resources Ltd (ASX:VRC) CEO Trevor Matthews details progress and aspirations for the Bunyu Graphite Project in Tanzania, as demand and supply for the commodity shifts, sending up prices. Speaking about a potential note issue on the Dar es Salaam Stock Exchange, Matthews says, "we're...

on 18/4/18

2 min read