MRL raising to help kickstart Sri Lanka graphite project

MRL raising to help kickstart Sri Lanka graphite project


http://www.theaustralian.com.au/bus...graphite-project/story-fnjw8txa-1227560365279

• The Australian
• October 07, 2015 12:22PM

Veteran stockpicker Warwick Grigor and his firm Far East Capital are raising $4 million for Sri Lanka-focused graphite play MRL Corp.

The Australian understands that MRL is raising the cash at 5.5c a share — a slight discount to its last trading price of 5.5c — with one for two attaching options.

Mr Grigor has already been an active investor in the graphite and graphene space being targeted by MRL, having established himself as a major shareholder in Sweden-focused Talga Resources.

The cash will go a long way towards starting production at MRL’s small but high-grade graphite deposits in Sri Lanka.

It is understood the raising has already been overbid.

Graphite is one of the few bright spots in resources, with investor excitement growing about its potential applications in the electric vehicle and storage battery markets.


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News is getting out !

I predict more news is coming!





Kind Regards