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Volt Resources' board of directors participate in SPP

Funds will be spent towards stage one development at the Bunyu Graphite Project in Tanzania.

Paterson Securities acted as the lead manager and underwriter to the SPP

Volt Resources Ltd’s (ASX:VRC) board of directors have participated in the share purchase plan (SPP) announced on July 23 to be spent towards advancing development work.

The company's non-executive chairman Asimwe Kabunga acquired 1.25 million fully paid ordinary shares at 1.2 cents per share increasing the total number of securities held after the change to 161,392,017.

Non-executive director Stephen Hunt also acquired 1.25 million shares in indirect interests increasing the total number of securities to 9,472,740.

Oversubscribed SPP

The company closed the SPP last week after raising $1.299 million as well as an additional $350,000 through a top-up placement.

Kabunga participated in the placement investing $100,000 showing his support for the company.

Volt continues to advance a number of funding strategies to support the development of stage one of its Bunyu Graphite Project.

Quick facts: Volt Resources Ltd

Price: 0.013 AUD

ASX:VRC
Market: ASX
Market Cap: $20.87 m
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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

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