Black Rock Mining Secures AU$5 Million to Advance Mahenge Graphite Project

Highlights:

• Black Rock Mining Limited (ASX: BKT) secured AU$5 million through a Placement at AU$0.023 per share to support the Mahenge Graphite Project in Tanzania.
• 217.39 million new shares will be issued, with settlement expected on 10 March 2025, alongside an Option Offer granting one free unquoted option for every two shares issued.
• POSCO retains the right to participate, potentially increasing the Placement size, while Petra Capital Pty Ltd acted as the Sole Lead Manager and Bookrunner.

Black Rock Mining Limited (ASX: BKT) has successfully raised AU$5 million through a Placement bookbuild at AU$0.023 per share, attracting strong support from institutional and sophisticated investors. The capital injection will be used to cover corporate expenses and working capital, ensuring progress in securing the remaining financing for the Mahenge Graphite Project in Tanzania.

Strategic Capital Raise to Accelerate Project Development

The Placement will issue 217.39 million new shares, with settlement expected on 10 March 2025. The funding marks a significant step in Black Rock’s strategy to advance its high-purity graphite project, which is expected to play a crucial role in the battery materials supply chain.

Additional Investor Participation and Options Offer

In addition to the Placement, the company has introduced an Option Offer, granting one free unquoted option for every two shares issued. The options will have an exercise price of AU$0.035 and a three-year expiry, subject to shareholder approval. Furthermore, POSCO, Black Rock’s strategic partner, retains the right to participate, which could potentially increase the Placement size.

CEO Highlights Commitment to Shareholder Value

At the time of writing, CEO John de Vries reiterated the company’s commitment to advancing Mahenge’s development while maintaining long-term value for shareholders. The successful capital raise reflects investor confidence in Black Rock’s growth trajectory and its role in the global graphite market.

Lead Manager and Market Confidence

Petra Capital Pty Ltd acted as the Sole Lead Manager and Bookrunner for the Placement. The funds

raised will help position Black Rock Mining for the next phase of development, reinforcing its ambitions to become a key graphite supplier in the electric vehicle and energy storage sectors.

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