PERTH (miningweekly.com) – ASX-listed Talga Resources has raised A$8.5-million through an institutional share placement, priced at 65c a share.
The company on Thursday said that some 13.1-million shares will be issued under the company’s existing placement capacity. The placement price represented a 5.8% discount to the company’s last trading price.
Talga told shareholders that the placement was undertaken following interest from several new, high quality institutional investors.
“We welcome our new institutional shareholders to the Talga register in what we see as a maturing vote of confidence by equity markets in the long-term upside for Talga’s global scale graphite-graphene material and technologies business,” said Talga MD Mark Thompson.
The funds raised will be used to advance the lithium-ion battery graphite and graphene product development, graphite resource and reserve conversions and feasibility studies, as well as cobalt project development and for general working capital.