Volt Resources - Fund-raise bolsters coffers prior to Bunyu FS
Volt has received binding commitments from sophisticated and institutional investors to raise gross proceeds of A$2m via the issue of 87m shares at A$0.023, an 8% discount to the prevailing share price. It represents c 6% of the outstanding share capital. With Volt’s eagerly anticipated Stage 1 Bunyu FS to be released and a US$40m Tanzanian Bond Issue due shortly, these funds will hopefully allow Volt to transition to the project financing stage without any further shareholder dilution.Volt Resources is engaged in the coal exploration in Mozambique.
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