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ASX-listed flake graphite development company Volt Resources’ subsidiary Volt Graphite Tanzania has signed a cooperation agreement with one of China’s largest graphite companies, HAIDA Graphite.
Under the terms of the agreement, the companies will exchange relevant information and conduct testing on Volt’s graphite product samples, as both parties look to build a working relationship for the future supply and purchase of products from Volt’s Bunyu graphite project, in Tanzania.
Further discussions with other potential offtake partners continue, Volt said on Wednesday.
Meanwhile, regarding Volt’s proposed $40-million note issue, Volt has lodged an amended prospectus with the Tanzanian Capital Markets and Securities Authority, (CMSA) and the Dar es Salaam Stock Exchange (DSE).
This followed correspondence from Volt and a meeting with CMSA in June, after receipt of the CMSA’s initial review of the note prospectus. The prospectus has been updated to include the recently published Stage 1 feasibility study results and a binding offtake agreement that was signed with Qingdao Tianshengda Graphite.
This is the first resources-based note to be listed on the DSE.
Volt and its advisers remain confident of a successful outcome regarding the proposed development funding.