https://newsletter.mw.creamermedia.com
Mining|PROJECT
Mining|PROJECT
mining|project

Black Rock raises cash

13th June 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Graphite developer Black Rock Mining will raise A$10-million in a share placement to institutional and sophisticated investors, to fund working capital to complete the debt process and project-level partner process for its Mahenge project, in Tanzania.

The ASX-listed company has received firm commitments for the placement of more than 86.9-million shares, priced at 11.5c each, representing a 20.7% discount to Black Rock’s closing price on June 7, and a 14.9% discount to the company’s 15-day volume weighted average share price.

Placement participants will receive one free attaching option for every three shares subscribed for, with the option exercisable at 20c each and with an expiry date of 24 months.

“We are very pleased with the level of support provided from existing shareholders and welcome several new institutional shareholders to the Black Rock register,” said CEO John de Vries.

“We have several key de-risking milestones due near term and this A$10-million placement should provide the company with sufficient cash reserves to complete the debt financing and partner processes.”

Edited by Creamer Media Reporter

Comments

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

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:6.674 6.792s - 128pq - 3rq
Subscribe Now