1. Most Discussed
  2. Gainers & Losers
VRC 3.5¢

VOLT RESOURCES LIMITED

Refresh
15,318 posts · 8107 Monthly Visits *

 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

Exercise of Listed Options Raises $4.7M to 
Aggressively Progress the Bunyu Graphite Project
9 January 2018

  • Heavily supported exercise of listed options (approximately 90% exercised before underwriting) supports Volt’s development strategy and production pathway for the Bunyu Graphite Project 
  • Volt’s robust cash position provides the financial capacity to aggressively progress the Stage 1 Development of flagship Bunyu Graphite Project 
  • Volt proceeding with US$40m Tanzanian bond issue financing with Exotix Capital for Stage 1 Development with planned completion Q1 2018 
  • Prices for flake graphite remained strong in the December 2017 quarter with increases across all product sizes driven by increasing demand from lithium ion battery manufacturers and flame retardant building materials 
Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that it has successfully raised gross proceeds of $4.7 million through the exercise of 235,648,431 listed options at $0.02. 

The listed options exercise process was strongly supported, with approximately 90% of Volt optionholders exercising their options. The shortfall of approximately 24 million options was jointly underwritten and taken up by Empire Capital Partners Pty Ltd ("Empire") and Cove Capital Pty Ltd ("Cove") (see ASX announcement dated 8 December 2017). 

Importantly, this additional funding provides Volt with the required financial flexibility to aggressively progress the planned Stage1 development of the Company’s flagship Bunyu Graphite Project in Tanzania, with the Stage 1 Feasibility Study expected to be completed in late Q1 2018. 

Volt’s near-term strategy is to develop Bunyu Stage 1 to process 400,000tpa of ore and produce a nominal 20,000tpa of graphite products. The Stage 1 development is to produce bulk graphite product which will both satisfy the existing offtake agreement and the non-binding offtake agreements entered into with four potential Chinese customers1 . The Bunyu Graphite Project has already demonstrated PFS project economics of US$1.3 billion NPV (pre-tax) with a 1.4 year payback based on annual production of approximately 170,000 tonnes of graphite product (see ASX announcement dated 15 December 2016). 

As previously announced (14 December 2017), Volt is proceeding with its proposed US$40 million Tanzanian bond issue with specialist frontier markets investment bank Exotix Capital. Exotix is a market leader in structured finance packages for natural resource projects in African economies. The following link includes comments on African financing and Volt’s bond issue by Exotix Capital’s Head of Natural Resources Andrew Moorfield. 

Volt’s Chief Executive Officer, Trevor Matthews commented:

“We are extremely pleased to have further strengthened our cash position through the successful exercise of the options, and the Volt Board and I would like to thank our loyal shareholder base for their continued support. I would also like to thank both Empire and Cove for their support throughout the process. 

“Volt is now strategically positioned to execute on a number of operational milestones as part of the Stage 1 Development of Bunyu, with key near-term deliverables to include the finalisation of all project approvals and completion of the Stage 1 Feasibility Study this quarter.

“We will also concurrently advance our planned Tanzanian bond issue through our partnership with Exotix Capital aimed at securing the required funding for the development of Stage 1. 

“It is also worth noting the recent funding success of Tanzanian based Swala Oil & Gas PLC, with Exotix Capital placing an initial tranche of US$25 million. This demonstrates Exotix’s strength in financing selected high quality natural resource projects in Tanzania. 

“We are excited to be entering the New Year with a number of significant value catalysts in the short term and we look forward to keeping our shareholders updated on these corporate and operational developments over the coming months.”

Volt to proceed with US$40 million Tanzanian Bond issue to fund 
Stage 1 development of Bunyu Graphite Project
14 December 2017

  • Volt to proceed with Bond Issue following successful roadshows completed in Tanzania, Uganda and Kenya 
  • Proposed funding to complete Stage 1 development of Bunyu Graphite Project targeting production of 20,000tpa of graphite products commencing late 2018/early 2019 
  • Debt transaction sized at US$40 million to cover Stage 1 development at the Bunyu Project and ancillary costs 
  • Volt’s Bunyu Project is the largest JORC Mineral Resource deposit in Tanzania with 461Mt @ 4.9% TGC, with 22.6Mt of contained graphite1 

Tanzanian-focused flake graphite development company Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise that it will proceed with the issue of US$40 million in structured debt funding. 

As previously advised (see ASX Announcement dated 25 October 2017), Volt has engaged Exotix Capital to undertake a Tanzanian Bond issue to raise the required funding for the development of Stage 1 of the Bunyu project. 

Following recent meetings with targeted investment groups in Tanzania, Uganda and Kenya, Exotix has recommended Volt proceed with a formal bond prospectus process and listing of the bonds on the Dar es Salaam Stock Exchange (“DSE”) in Tanzania. Volt and Exotix have sized the debt transaction at US$40 million on the key terms set out below which will allow net project development and working capital funding of ~US$31 million after taking into account a Debt Service Reserve Account (DSRA) and costs of the issue. The facility interest and bond maturity payments can be serviced by projected project cashflows. 

Importantly, the US$40m debt sizing allows meaningful participation from Tanzanian and Ugandan Pension Funds combined with other investment groups seeking fixed income investments.

Following the preparation and issue of a prospectus by Volt’s Tanzanian subsidiary, Volt Graphite Tanzania Ltd, to accept investment subscriptions, the bonds be will listed on the Dar es Salaam Stock Exchange (“DSE”) in Tanzania. The estimated timeframe to complete the bond prospectus and DSE listing is 8-12 weeks. 

This funding pathway provides for local investment in the largest graphite project in Tanzania and one of the largest in the world. With local job creation and skills acquisition, local business opportunities and significant export revenue for Tanzania, the Bunyu Graphite Project provides Tanzania with the opportunity to become a significant part of the global new energy sector. 

Volt’s Bunyu Graphite Project can produce graphite suitable for battery anode production, flame retardant building material uses, the developing graphene industry and traditional markets including refractories. 

Volt’s CEO, Trevor Matthews, commented: 

“We are buoyed by the level of support received from the Exotix bond roadshow. 

“The appetite for investing in local resource projects in this market is evident by the positive response received to date and the increased sizing of the bond issue provides us with added financial flexibility as we target the successful Stage 1 development of our Bunyu Graphite Project over the next 12 months.

“We look forward to scaling up our development activities at Bunyu into the new year, and we will provide shareholders with further funding and operational updates in due course.”

Click here to view the full announcement

This is a paid advertisement. HotCopper does not endorse, approve or take responsibility for the statements made.
Forum
Stock Code
SubjectView as
Poster
Views
Rating
Date
    ×
    Australia's leading analysts are standing by.
    Ask any question FREE on any ASX listed company, we will answer your question by next business day and give you share recommendations from our Award-Winning team, FREE for 21 days
  1. Sponsored
  2. 3,369
    19/02/1819/02
  3. 3,369
    7
    19/02/1819/02
  4. 3,369
    1
    19/02/1819/02
  5. 3,369
    19/02/1819/02
  6. 472
    1
    19/02/1819/02
  7. 3,369
    1
    19/02/1819/02
  8. 472
    4
    19/02/1819/02
  9. 3,369
    5
    19/02/1819/02
  10. 3,369
    1
    19/02/1819/02
  11. 3,369
    5
    19/02/1819/02
  12. 3,369
    2
    18/02/1818/02
  13. 3,369
    3
    18/02/1818/02
  14. 3,369
    6
    18/02/1818/02
  15. 3,369
    5
    18/02/1818/02
  16. 3,369
    3
    18/02/1818/02
  17. 3,369
    10
    18/02/1818/02
  18. 3,369
    18
    17/02/1817/02
  19. 16,769
    17/02/1817/02
  20. 16,769
    12
    17/02/1817/02
  21. 16,769
    3
    16/02/1816/02
  22. 16,769
    6
    16/02/1816/02
  23. 16,769
    16/02/1816/02
  24. 16,769
    16/02/1816/02
  25. 16,769
    16/02/1816/02
  26. 16,769
    16/02/1816/02
  27. 16,769
    1
    16/02/1816/02
  28. 16,769
    16/02/1816/02
  29. 16,769
    5
    16/02/1816/02
  30. 16,769
    1
    16/02/1816/02
  31. 16,769
    3
    16/02/1816/02
  32. 16,769
    7
    16/02/1816/02
  33. 16,769
    10
    16/02/1816/02
  34. 16,769
    7
    15/02/1815/02
  35. 16,769
    3
    15/02/1815/02
  36. 16,769
    3
    15/02/1815/02
  37. 16,769
    1
    15/02/1815/02
  38. 16,769
    15/02/1815/02
  39. 16,769
    15/02/1815/02
  40. 16,769
    15/02/1815/02
  41. 16,769
    1
    15/02/1815/02
  42. 16,769
    2
    15/02/1815/02
  43. 16,769
    15/02/1815/02
  44. 16,769
    2
    15/02/1815/02
  45. 16,769
    15/02/1815/02
  46. 16,769
    15/02/1815/02
  47. 16,769
    2
    15/02/1815/02
  48. 16,769
    5
    15/02/1815/02
  49. 16,769
    1
    15/02/1815/02
  50. 16,769
    4
    15/02/1815/02
  51. 16,769
    2
    15/02/1815/02
  52. 16,769
    7
    15/02/1815/02
  53. 16,769
    7
    14/02/1814/02
  54. 16,769
    1
    14/02/1814/02
  55. 16,769
    2
    14/02/1814/02
  56. 16,769
    6
    14/02/1814/02
  57. 16,769
    6
    14/02/1814/02
  58. 16,769
    14
    14/02/1814/02
  59. 16,769
    14/02/1814/02
  60. 6,160
    9
    14/02/1814/02
  61. 16,769
    2
    13/02/1813/02
  62. 16,769
    3
    13/02/1813/02
  63. 16,769
    15
    13/02/1813/02
  64. 16,769
    8
    12/02/1812/02
  65. 6,160
    3
    12/02/1812/02
  66. 6,160
    4
    12/02/1812/02
  67. 6,160
    12/02/1812/02
  68. 6,160
    10
    12/02/1812/02
  69. 6,160
    3
    12/02/1812/02
  70. 6,160
    3
    11/02/1811/02
  71. 6,160
    2
    11/02/1811/02
  72. 6,160
    3
    11/02/1811/02
  73. 6,160
    1
    11/02/1811/02
  74. 6,160
    6
    10/02/1810/02
  75. 6,160
    2
    10/02/1810/02
  76. 6,160
    3
    10/02/1810/02
  77. 6,160
    2
    09/02/1809/02
  78. 6,160
    09/02/1809/02
  79. 6,160
    2
    09/02/1809/02
  80. 6,160
    10
    09/02/1809/02
  81. 6,160
    1
    09/02/1809/02
  82. 6,160
    1
    09/02/1809/02
  83. 6,160
    11
    09/02/1809/02
  84. 14,530
    1
    09/02/1809/02
  85. 6,160
    09/02/1809/02
  86. 6,160
    1
    09/02/1809/02
  87. 14,530
    1
    09/02/1809/02
  88. 14,530
    1
    09/02/1809/02
  89. 6,160
    3
    09/02/1809/02
  90. 6,160
    2
    09/02/1809/02
  91. 14,530
    2
    09/02/1809/02
  92. 14,530
    3
    09/02/1809/02
  93. 14,530
    6
    09/02/1809/02
  94. 14,530
    3
    09/02/1809/02
  95. 14,530
    1
    09/02/1809/02
  96. 14,530
    5
    09/02/1809/02
  97. 14,530
    2
    09/02/1809/02
  98. 14,530
    2
    09/02/1809/02
  99. 14,530
    09/02/1809/02
  100. 14,530
    2
    09/02/1809/02
  101. 14,530
    3
    09/02/1809/02
Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.