Tanzanian-focused flake graphite developer Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that the two Mining License Applications (“MLA”) for the Company’s Bunyu Graphite Project have been recommended for approval within the Tanzanian Ministry of Minerals online Cadastral system.
As previously advised (see ASX announcement dated 8 February 2018), Volt has lodged two MLA’s with the Ministry of Minerals of Tanzania which covers the footprint for both the Stage 1 and 2 developments at the Bunyu Graphite Project.
This recommendation represents an encouraging step forward in the MLA approval process, however this status change does not constitute final approval and receipt of the ML’s. Further updates on the ML approval process will be provided to shareholders in due course.
Tanzanian Note Issue Prospectus Update
Volt continues to advance the US$40 million Note Issue, for which an updated Prospectus was lodged with the Tanzanian Capital Markets and Securities Authority (“CMSA”) and the Dar es Salaam Stock Exchange (“DSE”) on August 17, 2018.
Correspondence with the CMSA has been ongoing and positive with the Company preparing to lodge a further update of the Prospectus and associated documents. Volt is satisfied with the recent progress in relation to regulatory approval of the Prospectus with a conclusion expected in the near future.
For and on behalf of Volt Resources Limited
Trevor Matthews
Chief Executive Officer
FOR PERSONAL USE ONLY
For further information please contact:
Trevor Matthews – Chief Executive Officer
Tel: +61 8 9486 7788