Volt Updates on Funding Initiatives for Development of Bunyu Graphite Project

  • Jun 03, 2019 AEST
  • Team Kalkine
Volt Updates on Funding Initiatives for Development of Bunyu Graphite Project

Volt Resources Limited (ASX: VRC) is a company operating in the metals and mining sector. The company was founded in 2003 and is headquartered in St George Terrace, Perth, Australia. Volt Resources engages in exploration activities with Mineral Exploration-Tanzania and Mineral Exploration-Australia being the major segments.

The company has recently been progressing towards its funding initiatives for the purpose of Stage 1 development of the Bunyu Graphite Project in Tanzania. A delegation from China and Japan had visited to scrutinize the potential graphite supply of the project.

Trends in Demand for Natural Flake Graphite (Source: Company’s reports)

The required amount of funding for the development Stage 1 of the project is US$40 million.

The company has been continuously working on advancing numerous development funding strategies. This involved providing Volt with options of Note or Bond listings on the Dar es Salaam in Tanzania and the Stock Exchange of Mauritius, respectively.

Current status on funding:

  • Volt Resources is currently in the process of obtaining approval for the Tanzanian Note issue and holding meetings and discussions with senior government officials to close the process. The company is now in the final stages of the approval process and will become the first mining company to pursue a DSE debt listing.
  • There has been significant progress in the approval process of the Mauritian Bond Issue. In order to comply with the information and disclosure requirements for the issue, a draft prospectus is in the final stages of preparation. The listing on Stock Exchange of Mauritius is being targeted in order to provide additional funding flexibility to Volt.
  • Among others, the company has also received a favourable response from the North American and Asian Institutions to accelerate the funding for the Bunyu Stage 1 development. Volt has been engaged in discussions with the institutions via Exotix Capital.
  • Another funding secured by Volt Resources includes the infusion of $100,000 short term working capital funding from Mr Kabunga and Mr Hunt, two of the company Directors. This was received during the interim period on an unsecured, arm’s length commercial term basis and was agreed to be paid back on or before 15th July 2019.

The chance to obtain funding from listings in both Mauritius and Tanzania will help Volt attract a much larger pool of investors to increase its funding flexibility.

As soon as the approval dates and Note/Bonds prospectus offer and listing timeframes become accessible, the company will provide further updates on the issue, probably in the few coming weeks.

The Bunyu Project is expected to become a quality success considering the favourable response from investors in Tanzania and Mauritius, including the North American and Asian institutions. Volt Resources is looking forward to finalising the funding process at the earliest so as to turn its focus completely on the start-up of development works post completion of the Bunyu Project funding.

Recently, the company published its Q3 FY19 review to the market.

Currently, the stock of the company is trading at a price of $0.017(as at AEST: 11;51 AM, 03 June 2019), up by 6.25% as compared to its previous trading close price, with a market capitalisation of $21.83 million.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK