https://www.miningweekly.com
PROJECT|Drilling
PROJECT|Drilling
project|drilling

Bass raises cash for Graphmada

14th December 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Bass Metals will raise A$3.3-million through a share placement to fund resource drilling and part of the Stage 2 expansion at its Graphmada large flake graphite project, in Madagascar.

Shares for the placement will be issued at a price of 1.25c each, with subscribers to the placement also receiving one unlisted option, exercisable by the end of December 2020, at a price of 5c each, for every two shares issued.

Bass said on Friday that completion of the share placement would leave the company with some A$5.5-million in cash and receivables on hand.

Bass is aiming to deliver the Stage 2 expansion of its Graphmada project over the next 12 months, increasing production volumes from the current 6 000 t/y to 20 000 t/y.

Funds from the share placement will also go towards resource drilling, with Bass seeking to delineate an increased mineral resource, and to declare a maiden ore reserve for the Graphmada project.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.106 0.142s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: