Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that it continues to advance its Tanzanian Note Issue, with conditional approval received from the Dar es Salaam Stock Exchange PLC to list the Notes on the Dar es Salaam Stock Exchange (“DSE”).
While most of the conditions relate to the provision of further information or points of clarification, the key condition is the approval of the Note prospectus by the Tanzanian Capital Markets and Securities Authority (“CMSA”). While this approval is yet to be obtained, Volt is confident of receiving the approval in the near
future.
The conditional approval represents an important progression in the funding process, with Volt
management and its advisors, Exotix Capital and Orbit Securities commencing an investor roadshow in Tanzania this week in advance of receiving the prospectus approval from the CMSA.
This latest development follows the issue by the Mining Commission of the Ministry of Minerals of Tanzania of two mining licence’s, ML591/2018 and ML592/2018, covering the respective Stage 1 and Stage 2 developments of the Bunyu Graphite Project (see ASX release dated 22 October 2018).
As previously advised, funds raised will be deployed towards the Stage 1 development of the Bunyu Graphite Project. A Definitive Feasibility Study (“DFS”) on the large-scale Stage 2 Expansion at Bunyu will also be undertaken concurrently with the Stage 1 development.
Volt looks forward to providing further updates on the Tanzanian funding process shortly.
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