EcoGraf raises A$54.6m for WA plant
PERTH (miningweekly.com) – ASX-listed EcoGraf will raise A$54.6-million through a share placement to institutional, sophisticated and professional investors to fund the Phase 1 construction of its commercial-scale battery anode material purification facility, in Western Australia.
The company told shareholders that it had received firm commitments for the placement of some 91-million shares, at a price of 60c each. The offer price represented a 2.2% discount to EcoGraf’s ten-day volume weighted average share price, and a 21% premium to its 15-day volume weighted average price.
The new shares will be issued under the company’s existing placement capacity, and will not require shareholder approval.
The proceeds from the placement will be used to fund the construction and operational commissioning of the Phase 1 battery anode material purification facility, as well as to advance the battery anode material recycling programmes and to finalise debt financing arrangements for the Epanko graphite mine.
The Phase 1 battery anode material purification facility will have an initial production capacity of 5 000 t/y, and once commissioned, will be expanded to reach 20 000 t/y.
EcoGraf recently authorized GR Engineering to undertake works for the detailed engineering design for the construction of this new facility, which will use EcoGraf’s proprietary purification technology to deliver electric vehicle, lithium-ion battery and anode manufacturers a source of high quality and sustainably produced battery anode material products.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation