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

Black Rock Mining raises $4.74 million to complete graphite project study

Proactive Investors Friday, 19 January 2018
Black Rock Mining Ltd (ASX:BKT) will use $4.74 million in placement funds to complete a definitive feasibility study for its Tanzanian graphite project. The fund raising was completed this week with the placement of 9 million shares to directors and advisers at $0.06 per share for $540,000. This adds to the $4.2 million raised in a heavily oversubscribed placement completed in November 2017. The 70 million new fully paid ordinary shares were predominantly placed with new institutional and sophisticated investors. Mahenge has 16.6 million tonnes of graphite The Mahenge Graphite Project in the Mahenge region of Tanzania has a resource estimate of 211.9 million tonnes at 7.8% TGC for 16.6 million tonnes of contained graphite. John de Vries, chief executive officer, said: “The completion of the placement is a significant step in our transition from a graphite explorer to developer and ultimately a global producer. “The strong support validates our project that combines super low capital costs, high margins and scale. “Being fully funded to complete the definitive feasibility study allows us to continue to de-risk the project, develop our markets and people and progress to a construction decision.” Company appoints contractor for study Black Rock recently appointed CPC Project Design as engineering contractor for the study. The mid-tier, Perth-based engineering company with extensive graphite and Africa experience expects to start the study this month. The scope of the study is for the first module of Ulanzi, Mahenge and the associated infrastructure. Due for completion in second half of 2018 The study is scheduled for completion in the second half of 2018. Full completion and delivery of the study is subject to and conditional upon Tanzania putting in place its new mining code and regulations. An optimised preliminary feasibility study completed in August 2017 confirmed the project’s potential as a long-life, low capex, high margin operation.
Credit: Wochit Entertainment - Published < > Embed
News video: Black Widow May Make Scarlett Johansson Hollywood's Highest Paid Actress

Black Widow May Make Scarlett Johansson Hollywood's Highest Paid Actress 00:43

According to a report by the Daily Mail, the highly-anticipated, yet still rumored, Black Widow standalone project could score Scarlett Johansson a huge payday. Insiders close to the situation claim the the deal being hashed out would nab Johansson a whopping twenty-five-million, making her the...

Recent related videos from verified sources

‘Avengers: Endgame’ Hauled In Nearly $200 Million Overseas [Video]‘Avengers: Endgame’ Hauled In Nearly $200 Million Overseas

At this very moment, the first American screenings of Avengers: Endgame are beginning in theaters up and down the east coast.

Credit: Wochit Entertainment     Duration: 00:32Published

Calorie Count On Gym Equipment May Not Be Accurate [Video]Calorie Count On Gym Equipment May Not Be Accurate

If your preferred method of exercise is based on what burns the most calories, you might lean towards the elliptical machine. Lifehacker reports that a new study indicates you may be getting inaccurate..

Credit: Wochit     Duration: 00:37Published

Ex-Nissan Boss Ghosn Posts $4.5 Million Bail, Released From Jail [Video]Ex-Nissan Boss Ghosn Posts $4.5 Million Bail, Released From Jail

According to a report by Reuters, on Thursday, former Nissan boss Carlos Ghosn was released from a Japanese jail after posting 4.5 million dollar bail and agreeing to conditions that include limited..

Credit: Wochit     Duration: 00:44Published

Tesla Has Terrible Quarter [Video]Tesla Has Terrible Quarter

Tesla lost $702 million during the first quarter of 2019 as deliveries fell sharply, and demand for the Model X and the Model S flattened. The company predicts it will again lose money in the second..

Credit: Wochit Business     Duration: 00:47Published

Study Finds Women Snore Nearly as Much as Men, But Just Won't Admit It [Video]Study Finds Women Snore Nearly as Much as Men, But Just Won't Admit It

Science! Here to answer all couples' arguments. Buzz60's Tony Spitz has the details.

Credit: Buzz60     Duration: 01:04Published

More and More Employees are 'Ghosting' Job Offers [Video]More and More Employees are 'Ghosting' Job Offers

A new study by recruitment firm Randstad shows that more than a third of employees under age 22 say they’ve accepted a job but then bailed on the offer.

Credit: Buzz60     Duration: 01:11Published

Travis Scott Sued $20M By Three 6 Mafia For Allegedly Jacking 'No Bystanders' [Video]Travis Scott Sued $20M By Three 6 Mafia For Allegedly Jacking "No Bystanders"

LOS ANGELES, CA – DJ Paul is suing Travis Scott over the use of Three 6 Mafia’s hit song “Tear Da Club Up” on the Astroworld cut “No Bystanders.” For the full story on Travis Scott check..

Credit: HipHopDX     Duration: 01:31Published

Stormwater storage and water quality project complete in Lehigh Acres [Video]Stormwater storage and water quality project complete in Lehigh Acres

Lehigh Acres Municipal Services Improvement District (LAMSID) just completed the Moving Water South Phase II: Blackstone Preserve Project.

Credit: Rumble     Duration: 02:07Published

Recent related news from verified sources

Black Rock Mining achieves improved concentrate grades in Chinese pilot plant test works

Black Rock Mining Ltd (ASX:BKT) has revealed the final metallurgical performance results from steady state operations of its 18-tonne Chinese pilot plant test...
Proactive Investors

ZEN Announces Commencement of Environmental Baseline Studies on Albany Graphite Project

DGAP-News: ZEN Graphene Solutions Ltd. / Key word(s): Miscellaneous 25.04.2019 / 14:02 The issuer is solely responsible for the content of this...
EQS Group Also reported by •Proactive Investors

Gold Road Resources confirms maiden guidance as production to begin this quarter

Gold Road Resources Ltd (ASX:GOR) has taken the opportunity to confirm maiden guidance for 2019 gold production in its March quarterly report released today....
Proactive Investors

Danakali aims to bring Colluli Sulphate of Potash project into development this year

Danakali Ltd (ASX:DNK) has established a clear strategy to bring the Colluli Sulphate of Potash (SOP) Project in the northeast African country of Eritrea into...
Proactive Investors

Russia’s Novatek Sells 20% In Arctic LNG 2 To Chinese Firms

  Russian gas producer Novatek said on Thursday that it had signed agreements with two Chinese companies, under which the Asian firms will become shareholders...

Orion Minerals makes significant restructure to its BEE ownership

Orion Minerals Ltd's (ASX:ORN) chief executive Errol Smart spoke to Proactive London after completing an A$8 million capital raising as part of a proposed...
Proactive Investors

Australian Potash’s Lake Wells SOP Project gets confidence boost with adoption of JORC brine guideline

Australian Potash Ltd’s (ASX:APC) Lake Wells sulphate of potash (SOP) project has gained technical and investor confidence with the adoption of a brine...
Proactive Investors

ioneer director buys $239,456 worth of shares on-market

ioneer Ltd (ASX:INR) director John Daniel Hofmeister has purchased about 1.15 million shares in the company valued at $239,456. The purchase was completed via...
Proactive Investors

You Might Like

Other recent news in Business

UNITED miles behind as City and Liverpool take title to the wireShorten tries to ease big BUSINESS concern
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.