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Volt Resources lodges amended prospectus for the USD 40 million Note Issue in Tanzania

Mining News - Published on Wed, 05 Sep 2018

Image Source: ABN Newswire
Tanzanian-focused flake graphite development company Volt Resources Limited has provided the below update following the lodgement of an amended prospectus pursuant to the Company’s proposed USD 40 million Note Issue and the signing of a strategic cooperation agreement with a major Chinese graphite company. Volt advises that the amended prospectus for the USD 40 million Note Issue was lodged with the Tanzanian Capital Markets and Securities Authority and the Dar es Salaam Stock Exchange on Friday, August 17. This followed correspondence from Volt and a meeting with the CMSA in late June after receipt of the CMSA’s initial review of the Note prospectus. The prospectus was also updated to include the recently published Stage 1 Feasibility Study results (see ASX release dated 31 July 2018) and the recent binding offtake agreement signed with Qingdao Tianshengda Graphite (see ASX release dated 2 August 2018).

Volt’s management would like to advise that as this is the first resources-based Note to be listed on the DSE, the Regulators have duly spent time understanding the differences from existing issuances which comprise banks and telecom companies. Volt and its advisors are pleased with the discussions and progress to date and remain confident of a successful outcome in respect to the proposed development funding.

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Posted By : Joykumar Irom on Wed, 05 Sep 2018
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