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VOLT RESOURCES LIMITED

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Bunyu Graphite Project On Track

ASX Announcement 17 April 2018 

Key Points:

  • Draft prospectus for US$40 million Note Issue now under review by the Tanzanian Capital Markets and Securities Authority and the Dar es Salaam Stock Exchange
  • Environmental approvals process progressing well – site verification visit and technical review completed
  • Resettlement Action Plan developed and compensation approvals nearing completion

Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to provide a progress update on the Company’s flagship Bunyu Graphite Project in Tanzania.

US$40 million Tanzanian Note Prospectus Progress

As advised on 27 March, the Company lodged the draft prospectus for the US$40 million Note Issue with the Tanzanian Capital Markets and Securities Authority (“CSMA”) and the Dar es Salaam Stock Exchange (“DES”). Both regulators are currently conducting their review process. 

There is no prescribed timeframe for the completion of the review process. However, based on previous note issues the initial review generally takes 3 weeks to receive feedback from the regulators. Therefore, Volt expects to receive feedback from the regulators later this month. 

Following this, the Company and its advisors will make any requested changes and re-submit the prospectus to the regulators for final approval, following which the prospectus will be distributed to investors in East Africa to commence the fund raising process.

Bunyu Project Update

Volt can advise that the environmental approvals continue to progress in line with expectations, with the National Environment Management Council (“NEMC”) conducting a site verification visit in February, which was followed by a technical advisory committee meeting in Dar es Salaam in early March.

As usual with environmental assessment processes, further information for inclusion in the Environmental Social Impact Statement (“ESIS”) has been requested arising from these review processes. The Company is currently preparing the additional information and will submit the amended ESIS to the NEMC within the next week. Subject to meeting the requirements of the NEMC, the amended document and NEMC recommendations will be sent to the Department of Environment whereby the Minister will provide their decision within 30 days.

Click here to view full announcement 

Prospectus lodged for US$40 million Tanzanian Note Issue

ASX Announcement 27 March 2018 


Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that the draft prospectus for the US$40 million Note Issue1 will be lodged with the Tanzanian Capital Markets and Securities Authority (CMSA) and the Dar es Salaam Stock Exchange (DES) today.


Following lodgement the prospectus will be reviewed by the CMSA and the DSE.


Once approved for distribution, the prospectus will be printed and forwarded to potential investors in Tanzania, Uganda and Kenya.


Volt is undertaking the Note Issue in partnership with highly experienced, specialist investment bank Exotix Capital (“Exotix”). As previously advised (see ASX announcement dated 26 February 2018), Orbit Securities (“Orbit”) has been appointed as Co-Lead Advisor and Placing Broker for the Tanzanian Note Issue alongside Exotix.


Funds raised from the completion of the Note Issue will be deployed towards the Stage 1 development of the Bunyu Graphite Project, targeting the production of ca. 20,000tpa of highquality graphite products.


Further updated on the funding process will be provided to shareholders in due course.


Click here to view full announcement 


 Volt Lodges Mining Licence Applications for 
Bunyu Graphite Project, Tanzania
8 February 2018
 
  • Mining Licence Applications (MLA’s) cover both Stages 1 and 2 of its Bunyu Graphite Project in Tanzania
  • Significant milestone and represents the final key approval required for proposed Stage 1 development of flagship Bunyu Project
  • Latest development follows the submission of the Environmental and Social Impact Statement (ESIS) in January
  • Bunyu Project has the largest JORC Mineral Resource in Tanzania measuring 461Mt at 4.9% Total Graphite Carbon (TGC)
Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that it has lodged its Mining Licence Applications (“MLA’s”) with the Minister for Minerals of Tanzania (the “Minister”) covering the Company’s flagship Bunyu Graphite Project. 

Importantly, the MLA’s cover both the Stage 1 development, where an estimated 400,000tpa of ore will be processed producing a nominal 20,000tpa of graphite products, and the Stage 2 expansion at Bunyu which is targeted for completion by late 2020 and will be based on the PreFeasibility Study metrics of 3.8Mtpa of ore feed to produce 170,000tpa of graphite product. 

As the footprint of the Stage 1 Bunyu Project also accommodates the Stage 2 development – with both development stages set to utilise the same mine infratsructure – two MLA’s have been lodged with the Minister. The total area covered by the MLA’s is approximately 18 km², with single ML’s limited to 10km² in size. 

As previously advised (see ASX announcement dated 23 January 2018), the lodgement of the MLA’s follows the submission of the Environmental and Social Impact Statement, both of which are key approvals for Volt’s near-term development plans at Bunyu. 

Following assessment and approval by the National Environment Management Council (“NEMC”), Volt will be issued with its Environmental Certificate for the project.

In addition, Volt will update shareholders on the progress of the Exotix Capital US$40m bond issue and the finalisation of the Stage 1 Bunyu Feasibility Study in the near future. 

Volt’s Chief Executive Officer, Trevor Matthews commented: 

“We are continuing to make significant strides towards the planned Stage 1 Development of our Bunyu Graphite Project this year, with the submission of the Mining Licence Applications another key component of this strategy. 

“Coupled with the recent submission of the ESIS and the partnering with Exotix on the project funding for Bunyu, our focus remains squarely on our shareholder value proposition with the nearterm development of what will be a globally significant graphite asset.

Click here for the full announcement

Volt Header.PNG

Volt Lodges Environmental and Social Impact Statement 
for Bunyu Graphite Project
23 January 2018

  • Environmental and Social Impact Assessment study covers the area for Stage 1 and Stage 2 expansion projects at the flagship Bunyu Graphite project in Tanzania
  • Key step forward for stage 1 production at Bunyu Graphite Project
Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that it has lodged its Environmental and Social Impact Statement (“ESIS”) with the National Environment Management Council (“NEMC”) for the Company’s flagship Bunyu Graphite Project in Tanzania. This follows a thorough Environmental and Social Impact Assessment (“ESIA) study. 

As previously advised (see ASX announcement dated 26 September 2017), the lodgement of the ESIS follows the completion of a significant body of work including flora and fauna surveys, heritage surveys, and stakeholder identification, including public consultation and the development of environmental and social monitoring and management plans. 

The ESIA study covers the area required for the Stage 1 and Stage 2 expansion projects at Bunyu. The study forms a key component of Volt’s near-term development plans for Bunyu and following assessment and approval by NEMC, Volt will be issued with its Environmental Certificate for the project. 

Furthermore, Volt is currently preparing its Mining Licence application (“MLA”) for submission with the Mining Commission following the recent publication of the new mining regulations in Tanzania. This process is progressing on-track and the submission of the MLA is the final key approval required for the commencement of Stage 1 development works at Bunyu. 

Volt looks forward to updating shareholders shortly on the positive progress of the Exotix Capital US$40m bond issue and the Stage 1 Feasibility Study (FS) for the Bunyu Project. 

Volt’s Chief Executive Officer, Trevor Matthews commented: 

“Volt continues to make significant progress towards the proposed commencement of Stage 1 production at the Bunyu Project, and the submission of the ESIS is another notable step forward. “Our team remains focused on delivering a number of key near-term milestones including the submission of the MLA, the completion of the US$40m bond issue and the finalisation of the Stage 1 Feasibility Study for Bunyu– so we expect a steady flow of operational milestones to be executed over the coming months. 

“We are focused on continually de-risking the development of the Bunyu project and together with the recent securing of an additional $4.7 million funding, Volt enters the year in a strong position to unlock the true potential of the Bunyu project. 

“We look forward to keeping our shareholders informed on key corporate and operational developments during this busy period in Volt’s development.”

Click here to view the full announcement

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