https://newsletter.mw.creamermedia.com
Africa|Industrial|Mining|PROJECT
Africa|Industrial|Mining|PROJECT
africa|industrial|mining|project

A$10m cash boost for graphite developer Black Rock

27th March 2024

By: Creamer Media Reporter

     

Font size: - +

Tanzanian graphite developer Black Rock Mining on Wednesday announced a well-supported A$0.065-a-share placement that raised A$10-million.

Proceeds would be used for final Mahenge preparations ahead of the final investment decision (FID).

“We have several key derisking milestones due near term and this A$10-million placement should provide the company with sufficient cash reserves to complete loan and contract documentation ahead of FID, as well as working towards consummating a deal in the partner process in which we are aiming to sell a stake in the project at a premium as a less dilutive pathway to cash flow,” said CEO John de Vries.

Earlier this month, the company announced that key approvals were in place for $153-million in debt facilities with the Development Bank of Southern Africa, Industrial Development Corporation and CRDB for the mine.

In addition, Black Rock is expecting to shortly receive confirmation of Posco’s approvals for its equity investment of up to $40-million.

Mahenge has a resource of more than 200-million tonnes and is said to be the world’s second-biggest graphite reserve.

Black Rock's share price fell 17% on Wednesday, trading at A$0.068 apiece by late afternoon in Sydney.

Edited by Creamer Media Reporter

Comments

Showroom

Actom
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025
BOLSTERING PRESENCE
The project is set to bolster Namibia’s position as one of the world’s leading uranium producers
Uranium mine moving closer to production
21st February 2025 By: Simone Liedtke

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.067 0.137s - 143pq - 2rq
Subscribe Now