VRC 25.0% 0.5¢ volt resources limited

Ann: Due Diligence Nearing Completion for Graphite Acquisition, page-2

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    DUE DILIGENCE NEARING COMPLETION FOR EUROPEAN GRAPHITE BUSINESS ACQUISITION

    Highlights

    • Acquisition of 70% of ZG Group on track
    • Due diligence by Volt appointed international and locally recognised consultants nearing completion:
    • Financial and Tax draft due diligence report by Deloitte Ukraine and the legal and Commercial draft due diligence report by AVELLUM have been received and both currently under review by the Volt board and management
    • The combined Technical draft due diligence report by Bilfinger Tebodin Ukraine (processing, engineering, capital projects, organisation) and Wardell Armstrong International (geology, mining, environment) expected this week
    • Nothing identified to date that would prevent the acquisition from completing
    • ZG Group acquisition to transform Volt into one of the few ASX listed graphite producers this quarter
    • The completion of the acquisition will position Volt significantly ahead of most of its peer graphite companies to become a graphite producer without the usual time and risk related to complete greenfield project financing, construction, commissioning and ramp up
    • ZG Group planning to produce LIB anode material (SPG) to create the only European integrated mine and SPG producer
    • ZG group graphite business produces a high value “green” purified 99.5%TGC product

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