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Volt Resources receives approval to list debt in Mauritius

This approval means Volt will finalise its investor roadshow which aims to raise funds for its flagship Bunyu Graphite Project in Tanzania.

Volt Resources Ltd - Volt Resources receives approval to list debt in Mauritius
Volt also aims to list the notes on the Tanzanian exchange

Volt Resources Ltd (ASX:VRC) has had its application approved to list debt in the form of notes on the Stock Exchange of Mauritius (SEM).

A subsidiary company is undertaking a private placement of notes that will be listed on the Development and Enterprise Market (DEM) of the SEM.

This approval allows Volt and its advisors to finalise planning for an investor roadshow.

Further details will be provided in the prospectus when it is lodged.

Potential investors have been identified

Volt’s CEO Trevor Matthews said: “With the green light now received from the SEM we are looking forward to finalising our Note Issue roadshow planning and the commencement of the fund raising process.

“During this listing approval process we have worked closely with our advisors to establish a solid network of potential investors having generated significant interest as the first resources company to undertake a Note Issuance on the SEM.

“The Mauritian Stock Exchange offers strong access to a broad pool of investors spanning Mauritius, Europe, the Middle East and North America and I look forward to providing shareholders with further updates as this initial round of fund raising gets underway.”

Debt issue to fund Stage 1 graphite operation

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.

Quick facts: Volt Resources Ltd

Price: 0.019 AUD

ASX:VRC
Market: ASX
Market Cap: $38.39 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

2 min read