Non-executive chairman Asimwe Kabunga purchased 13.15 million shares and non-executive directors Stephen Hunt and Giacomo Fazio purchased 1 million shares and 65,892 shares respectively.
The purchases increase Kabunga’s holding to 182.88 million shares, Hunt’s holding to 14.93 million shares, and Fazio’s holding to 0.91 million shares.
Issuing and listing debt to fund Stage 1 mine
Volt continues to progress approval to issue and list interest-bearing notes on the Stock Exchange of Mauritius (SEM)’s Development and Enterprise Market (DEM) in addition to the issue and listing of interest-bearing notes on the Dar es Salaam Stock Exchange (DSE) in Tanzania.
The notes will be used to raise the funds required to construct the Stage 1 mine, plant and infrastructure and bring the Bunyu Project into production.
Bunyu’s development is based on a two-stage plan which aims to see Volt become one of the three largest natural flake graphite producers in the world.
The Stage 1 feasibility study was based on a 400,000 tonnes per annum mining and processing operation to produce on average 23,700 tonnes of graphite products annually.