https://www.miningweekly.com
Energy|Exploration|PROJECT|Renewable Energy|Equipment|Environmental|Infrastructure
Energy|Exploration|PROJECT|Renewable Energy|Equipment|Environmental|Infrastructure
energy|exploration|project|renewable-energy|equipment|environmental|infrastructure

Vulcan completes first part of capital raise

16th September 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) - ASX-listed Vulcan Energy has completed a A$200-million share placement to advance its Zero Carbon lithium project, in Germany.

The company earlier this week announced plans for a A$220-million capital raise, consisting of a A$200-million share placement to sophisticated, professional and institutional investors, and a A$20-million share purchase plan (SPP).

Vulcan on Thursday announced that it had now received firm commitments for all of the underwritten share placement, which was priced at A$13.50 a share, with the placement strongly supported by both new and existing shareholders, including Hancock Prospecting.

“We would like to thank our existing shareholders, including Hancock Prospecting and new environmental and social governance-focused institutional shareholders, for supporting us in this placement to accelerate and expand our integrated renewable energy and lithium development strategy,” said Vulcan MD and CEO Dr Francis Wedin.

“We are now well positioned to pursue the targeted acquisition and upgrade of existing brownfield energy and brine infrastructure, to de-risk and grow our development plans, as well as to increase our production pipeline from our existing licence areas.

“This also allows us to complete the targeted acquisition and refurbishment of exploration equipment which will assist with executing on our project development in a timely manner.”

Settlement of the placement will take place on September 21.

Meanwhile, the SPP will open on September 24 and close on October 13.

Edited by Creamer Media Reporter

Comments

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 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 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:0.115 0.147s - 92pq - 2rq
Subscribe Now