Black Rock Mining Secures AU$5 million in Placement to Advance Mahenge Graphite Project

Black Rock Mining Limited (ASX: BKT) has successfully completed an AU$5 million Placement bookbuild at AU$0.023 per share, securing commitments from institutional and sophisticated investors. The funds will be allocated toward general corporate costs and working capital, allowing the company to focus on securing the remaining financing for its Mahenge Graphite Project in Tanzania. 

The Placement involves issuing 217.39 million new shares, with settlement expected on 10 March 2025. Additionally, an Option Offer will grant one free unquoted option (exercise price AU$0.035, expiring in three years) for every two shares issued, subject to shareholder approval. POSCO retains the right to participate, potentially increasing the Placement size. CEO John de Vries emphasized the company’s commitment to advancing Mahenge’s development while ensuring long-term value for shareholders. Petra Capital Pty Ltd acted as the Sole Lead Manager and Bookrunner for the Placement.

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