Australian Financial Review article tonight FYI

Street TalkVulcan readies $60m raising; Goldman Sachs at handSarah Thompson, Anthony Macdonald and Tim BoydFeb 1, 2021 – 8.31pmSaveShareA week since soft-sounding fund managers on a non-deal roadshow, lithium tearaway Vulcan Energy is all set to launch a $60 million-odd capital raising.Vulcan Energy was getting a capital raising together on Monday night. Louise KennerleyStreet Talk understands the company had Goldman Sachs at hand stitching together a deal on Monday night. While the numbers were still moving around, the deal was expected to be priced at somewhere around $6.25 a share. Vulcan’s shares last traded at $7.84.The deal was expected to launch as early as Tuesday morning.This column revealed last week that Vulcan had been booking in meetings with funds to talk through its zero carbon lithium production plans, and that all signs were pointing to a capital raising.The company is developing a lithium project in the Upper Rhine Valley in western Germany. Phase one of the project – pegged to start in 2024 – requires €226 million to build two geothermal energy plants and €474 million for lithium extraction and processing plants.The next stage in the project is to prepare a definitive feasibility study and scale up its lithium extraction test-work.The lithium play’s shares have been on a tear for a while, trading up more than 4000 per cent in the past 12 months and have skyrocketed since December.