- Volt Resources (VRC) enters a trading halt amid a capital raise
- So far, it is not known how much the company is aiming to raise or where the funds will be spent
- The halt means company shares will be paused until Thursday, June 30, or when further details about the raise are released to the market, whichever comes first
- Earlier this month, the company signed a letter of intent with Graphex Technologies to buy 5000 tonnes of natural flake graphite per year for the next 10 years from VRC’s Bunyu project
- Volt last traded at 1.7 cents on June 27
Volt Resources (VRC) has entered into a trading halt ahead of a capital raise.
Details about the capital raise are unknown to the market at this time.
Under the halt, company shares will be paused until Thursday, June 30, or when further details about the raise are released to the market, whichever comes first.
Earlier this month, Volt signed a letter of intent with Graphex Technologies, a battery anode material producer.
Under the deal, Graphex will buy 5000 tonnes of natural flake graphite every year for 10 years from Volt’s Bunyu project in Tanzania.
If both companies agree, the offtake volume could increase to 10,000 tonnes of product for any 12-month period.
On the market, Volt last traded at 1.7 cents on June 27.