Sarytogan Graphite Receives Tranche 2 Investment from EBRD and Positive PFS Review

Sarytogan Graphite Limited (ASX: SGA) has received AU$2,358,790 in cash from the European Bank for Reconstruction and Development (EBRD) for the Tranche 2 equity investment. This brings the total investment from EBRD to AU$5,000,000 for 32,250,000 shares at AU$0.16 each. EBRD now holds 17.3% of the company’s issued capital. The investment was completed at a 166% premium to the last closing price. The EBRD also conducted an independent peer review of the Sarytogan Graphite Project’s Prefeasibility Study (PFS), which identified some risks that can be mitigated through further work. The review concluded the project has considerable promise. The funds will accelerate the Definitive Feasibility Study (DFS), focusing on marketing, environmental impact assessments, metallurgy test-work, drilling, water investigations, power, transportation studies, and DFS engineering tendering.

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