Volt Resources Limited (ASX: VRC) successfully raised AU$1.226 million through a Placement of 471,538,461 shares at AU$0.0026 per share. This represents a 17.5% discount to the 20-day VWAP before the trading halt on 13 January 2025.
The funds will support key initiatives, including repaying an AU$500,000 RiverFort loan, advancing the Bunyu Graphite Project, developing high-purity graphite products, and covering working capital and corporate expenses. Executive Chairman Asimwe Kabunga and Non-Executive Director Dominic Virgara contributed AU$200,000 and AU$204,000, respectively, subject to shareholder approval. Kabunga highlighted the strong support from top shareholders despite challenges in the graphite market, underscoring confidence in Volt’s assets and long-term growth potential. This strategic funding positions Volt to deliver significant value to shareholders and accelerate the commercialisation of its projects.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
