RiverFort is pleased to announce that we have entered into a funding agreement with Volt Resources Limited for A$1,000,000 with an initial advance of A$250,000.
With recent announcements regarding downstream activities and the development of the Bunyu Graphite Project in Tanzania, Volt plans to use these funds to advance these activities, as well as for other general working capital purposes.
Volt’s Executive Chairman, Asimwe Kabunga, commented:
“We are pleased to obtain funding for our projects from this facility. Volt continues to make strong progress on key initiatives with its downstream activities. Our strong non-dilutive funding pipeline forms a key part of this strategy to become a graphite market leader. Volt’s intention is to repay the funds advanced under the facility by the Maturity Date.”
About Volt Resources Limited: Volt Resources Limited (“Volt”) is critical minerals and battery material company listed on the Australian Stock Exchange under the ASX code VRC. They are an established graphite producer and an emerging natural graphite anode (a key component of lithium-ion batteries) producer. Volt has a 70% interest in the Zavalievsky Graphite (ZG) business in Ukraine and a 100% interest in the Bunyu Graphite Project in Tanzania
The Bunyu Graphite Project is located near to critical infrastructure with sealed roads running through the project area and ready access to the port of Mtwara 140km from the Project. In August 2023, Volt reported the completion of the revised Feasibility Study for Stage 1 development, which is based on a mining and processing plant annual throughput of 400,000 tonnes of ore to produce on average 24,780 tpa of graphite products. The Company seeks to establish Bunyu as a world-class supplier of graphite products, supporting their existing natural flake graphite business, provide cashflow, and establish infrastructure to support development of the significantly larger Stage 2 expansion project.
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