https://www.miningweekly.com

BlackEarth raises cash for critical minerals work

24th January 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed BlackEarth Minerals will raise A$6.8-million to fund a definitive feasibility study (DFS) at its Maniry graphite project, in Madagascar.

The company said on Monday that it would place 50.7-million fully paid ordinary shares to institutional and sophisticated investors, at a price of 13.5c each. The new shares would be placed under BlackEarth’s placement capacity, and will not require shareholder approval.

The funds raised in the placement will be used to complete a DFS for the Maniry project and to fund drilling and exploration work at the project, while also going towards the development of a downstream expandable graphite project plan in India.

“Following the recent release on the progress of the Maniry project, together with the significantly enhanced financials, we are seeing substantial interest in our project from both local and overseas institutional investors, who participated in the raising, including those focused on environmental and social governance,” said MD Tom Revy.

“Management remains excited with the development progress of both its Maniry graphite project and its Indian joint venture expandable graphite plans, and the key milestones that will be reached in 2022.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

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:0.044 0.497s - 110pq - 2rq
Subscribe Now