https://www.miningweekly.com
Construction|Gold|PROJECT
Construction|Gold|PROJECT
construction|gold|project

Triton raises more cash for Ancuabe

7th September 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Graphite developer Triton Minerals has announced a two-tranche share placement to raise nearly A$8.5-million in funding to finance work at its Ancuabe project, in Mozambique.

The funding would include the A$5-million cornerstone investment from Chinese-listed commodities trader Shandong Yulong Gold Co announced at the start of the week, which is subject to shareholder approval and other conditions precedent.

In addition, the company has also received firm commitments for a further A$3.47-million from other institutional and sophisticated investors, which have agreed to take up 124-million shares, at a price of 2.8c each in a share placement.

The share placement will be conducted under Triton’s existing capacity, and will not require shareholder approval.

The company said on Wednesday that the investors partaking in the institutional and sophisticated investor placement would also be entitled to one option for every two shares issued, and subject to shareholder approval, the receipt of one additional option for every two shares issued under the placement.

Funds from the placement will be used towards the development of the Anucabe project, including advancing studies, approvals and the construction of a commercial pilot plant.

Edited by Creamer Media Reporter

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 1 hour 49 minutes ago By: Martin Creamer

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

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

Magazine cover image
Magazine round up | 26 April 2024
26th 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:0.158 0.199s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: