Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Black Rock Mining raises $3 million to progress graphite project to construction-ready stage

Proactive Investors Friday, 16 August 2019
Black Rock Mining Ltd (ASX:BKT) has raised $3 million in an oversubscribed placement of more than 42.8 million shares at 7 cents per shares to professional and institutional investors. Placement proceeds will support financing and final permitting activities to progress the Mahenge Graphite Project in Tanzania to construction-ready. This progression is supported by the company's debt advisors, Ironstone partners and completion of commercial and permitting activities for the project. Black Rock progressing Mahenge Graphite Project to construction Black Rock chief executive officer John de Vries said: “We are delighted with the support we have received from our cornerstone investors and from our board. “This placement of $3 million enables Black Rock to progress financing activities with a view to being construction ready for delivery of the Mahenge Graphite Project on resolution of the Tanzanian Government’s participation in the project. “Our strategy so far has been to focus on delivery of project development milestones. “In achieving our development milestones, we have progressed our financing objectives by de-risking the project and enhancing our market entry strategy. “With the completion of our technical work program, we can now confidently focus on completing our financing and commercial activities and completing document structure of the Tanzanian Government participation in the project.” Placement details The company’s directors and management have subscribed for almost 6 million shares totalling $414,299 on the same terms as the placement. Shareholder approval will be sought at a general meeting for the director allotment, with the shareholder meeting to be held shortly. Paterson Securities Ltd acted as sole lead manager to the placement.
Credit: AmazeLab - Published < > Embed
News video: Stunning Technicolor Geyser in Nevada Formed Out of Human Error

Stunning Technicolor Geyser in Nevada Formed Out of Human Error 01:00

Sometimes human meddling can create something beautiful and out-of-this-world. Here's how to visit Fly Geyser, which resides on property bought by the Burning Man Project in 2016.

Recent related videos from verified sources

Ryan Michelle Bathe on Raising Black Children [Video]Ryan Michelle Bathe on Raising Black Children

Actress Ryan Michelle Bathe recalls a moment she experienced at a farmer's market when a vendor mistreated her son.

Credit: OWN - Affiliate     Duration: 01:03Published

Dual tower architectural designs unveiled for Philadelphia [Video]Dual tower architectural designs unveiled for Philadelphia

PHILADELPHIA — U.S.-based design firm Practice for Architecture and Urbanism and real estate company Brandywine Realty Trust have unveiled designs for a pair of towers in University City in West..

Credit: TomoNews US     Duration: 01:41Published

Recent related news from verified sources

Twenty Seven gaining momentum in WA’s goldfields with Rover Project

Twenty Seven Co Ltd (ASX:TSC) is focused on exploring the unique and highly prospective 460 square kilometre Rover Project in WA’s goldfields. A 12-kilometre...
Proactive Investors

Walkabout Resources progressing final funding solution for Lindi

Walkabout Resources Ltd (ASX:WKT) continues to make progress developing its flagship high-grade Lindi Jumbo Graphite Project in southeast Tanzania. Funding...
Proactive Investors

You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.