Volt Resources’ share price continues to rise ahead of bond issue in Tanzania 15:09 06 Mar 2018
The company's shares were last trading circa 8% higher intra-day, at $0.042.
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Progressing towards stage I development of the Bunyu Graphite Project Volt Resources Ltd’s (ASX:VRC) share price has increased 50% over the last one month as it prepares to lodge a draft prospectus for a US$40 million bond issue in Tanzania.
The company recently hosted a visit of its Bunyu Graphite Project in Tanzania for potential bond investors.
The investor visit covered the planned mine and mineral processing site and the Mtwara port facilities.
Attendees included representatives from Exotix and Orbit Securities Limited, as well as local community leaders from Utimbula and Namangale.
Importantly, the site tour confirmed that East African investor appetite for U.S. dollar linked Tanzanian listed fixed income instruments is robust
The applications cover stages I and II of the Bunyu Graphite Project with development expected to start later this year, pending approvals.
Aiming to be one of the top three global natural graphite suppliers Volt has the largest mineral resource in Tanzania and is aiming to be one of the top three global suppliers of natural graphite by 2020.
The company is targeting the production of circa 20,000 tonnes per annum of high-quality graphite products.
Funds raised from the completion of the bond Issue will be deployed towards the stage I development of the Bunyu Graphite Project.
VRC Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
