Triton raises cash for pilot plant
PERTH (miningweekly.com) – Graphite hopeful Triton Minerals will raise A$4.44-million in a partially underwritten entitlement offer to progress pilot plant work at its graphite project, in Mozambique.
The entitlement offer, which closed on November 30, allows eligible shareholders to acquire four new shares for every 19 existing shares held, at a price of 4.1c each.
One free attaching option will also be issued on the basis of one new option for every one shared issued under the entitlement offer.
More than 89-million shares and 89-million options will be placed, with the new shares to be quoted on the ASX on December 7.
“Now that we have raised A$4.4-million, Triton is in a strong position to progress the commercial pilot plant at the Ancuabe graphite project and other initiatives to increase shareholders value,” said executive director Andrew Frazer.
Triton previously struck a binding offtake agreement with Chinese graphite product specialist Yichang Xincheng Graphite Co for the entire production from its pilot plant at the Ancuabe graphite project.
A commercial pilot plant will produce commercially viable quantities of concentrate which will prove the viability of both the product and of the large-scale project, at 60 000 t/y, in the longer term.
The offtake agreement will have a five-year term and will encompass an initial 50 000 t, with an option for a further 50 000 t, priced at market price.
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