https://www.miningweekly.com
PROJECT
PROJECT
project

Battery Minerals raises A$5m for Montepuez

4th April 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Battery Minerals will raise A$5-million through a share placement to progress its Montepuez graphite project, in Mozambique.

Battery Minerals will issue 204-million shares at a price of 2.5c each to profession and institutional investors. The shares will be issued in two tranches, with the second tranche subject to shareholder approval.

Placement investors will receive one listed option, exercisable at 10c each, for every two shares subscribed for. The options are already quoted and can be traded on the ASX.

MD David Flanagan said on Thursday that the fund raising marked another step towards the realization of the Motepuez project.

“We were overwhelmed with the support shown by a range of existing shareholders and new investors. We look forward to rewarding them with the completion of project financing and development, and ultimately success at Montepuez.”

The proceeds of the raising will be used to continue the ongoing development of the graphite project, and for general working capital.

Battery Minerals is currently working to complete financing for the planned 50 000 t/y Stage 1 project, with some $42-million of financing still outstanding.

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 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

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:0.114 0.146s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: