VOLT RESOURCES AIMS TO BE A TOP THREE GLOBAL SUPPLIER OF NATURAL GRAPHITE BY 2020
Volt Resources Ltd, an emerging Tanzanian-focused flake graphite development company is aiming to be one of the top three global suppliers of graphite...
Volt Resources Ltd, an emerging Tanzanian-focused flake graphite development company is aiming to be one of the top three global suppliers of natural graphite by 2020.
The company has hosted a visit of its Bunyu Graphite Project for potential bond investors.
The company is currently in the process of undertaking a $40 million Tanzanian Bond Issue.
This is being done in partnership with developing markets investment bank Exotix Capital, a group that focuses on raising finance in the natural resources sector.
Earlier in the month, Volt submitted mining licence applications for stages I and II of the project.
Funds raised from the completion of the bond Issue will be deployed towards the Stage I development of the Bunyu Graphite Project.
The company is targeting the production of circa 20,000 tonnes per annum of high-quality graphite products.
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.
The discussion of the Bunyu Project covered infrastructure access, community programs and graphite markets.
This overview was presented by Volt management including Trevor Matthews, chief executive officer.
Andrew Moorfield, Exotix’s head of natural resources, said: “The Volt site tour confirmed that East African investor appetite for US dollar linked Tanzanian listed fixed income instruments is robust.
“The Volt growth story and management strength is reflected in solid investor feedback.”