Volt Resources - Fully funded to complete pre-development goals
Volt has secured A$3.2m via two share issues to existing and new shareholders. The two raises (A$2.3m on 1 November and A$0.9m on 3 November 2017) will allow Volt to complete the critical path revised feasibility study (FS) on its Bunyu graphite project and for working capital purposes. These fund-raises will go towards completing management’s revised FS to better tailor its Bunyu graphite project to more closely match the opportunity in the battery-anode and fire-retardant end-markets, both of which provide the highest growth end-markets for future Bunyu graphite products. We also consider the success of these fund-raises, with the first heavily oversubscribed (56% above the original A$1.5m value), as a vote of confidence in Tanzania and its ability to treat graphite as an industrial mineral and separate from the ongoing negotiations regarding producers of precious metals and diamonds in country.Volt Resources is engaged in the coal exploration in Mozambique.
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