12 °c
London
Friday, June 24, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Economy

Triton Minerals graphite plays lure investors in tight market

FurtherAfrica by FurtherAfrica
January 18, 2016
in Economy, FDI, Finance, Mining, Mozambique, Natural Resources
Reading Time: 1 min read
876 9
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Triton Minerals (ASX:TON) has attracted about A$1.8 million in new investments in a difficult equity market as the company seeks to improve resources and feasibility metrics at its Mozambican graphite properties.

The funds came via recently close entitlement offer priced at A$0.09 per share, with acceptances received for a total of about 20.4 million shares.

This strong vote of confidence from existing shareholders was supported by a $4 million underwriting commitment by commodities-focused investment banking firm GMP Securities Australia.

Further endorsement for the $11.3 million fundraiser will be sought in a shortfall placement aimed at raising an additional $7.3 million within three months.

The funding drive first flagged in November last year is expected to be used to define resources at the P66 zone of the company’s Nicanda Hill project as well as at the Ancuabe project.

Part of the proceeds will be used to fund the start of construction for a joint venture manufacturing facility in Mozambique with JV partner Yichang Xincheng Graphite.

These plans are unfolding as Triton incorporates positive new drilling results from P66 as part of a proposed integrated operation designed to produce high-purity flake graphite.

A revised site plan and process flow sheet have been finalised whilst the metallurgical test work and geotechnical assessments are ongoing.

An expanded Definitive Feasibility Study is expected to be completed in mid-2016.

Source: Proactive Investors Australia

Related

Tags: Balamaflake graphiteGMP Securities AustraliaGrafiteGraphiteMiningMozambican graphite propertiesMozambiqueTritonモザンビーク莫桑比克
ScanSendShare354Tweet221Share62Pin80Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Agriculture

Mozambique production grew by 26% in the 2020-2021 campaign – MADER

by Club of Mozambique
June 24, 2022
Opinion: Will things get better for South Africa?
Economy

South Africa economy bounces back from floods

by FurtherAfrica
June 24, 2022
Gender

Vodacom Mozambique launches Young Women Scholarship Programme

by Club of Mozambique
June 23, 2022
Cabo Verde sees improvements in the trade deficit in 2018
Trade

Malawi fuel now imported by through Mozambique port

by Club of Mozambique
June 23, 2022
Finance

4th exchange traded fund listed in Zimbabwe stock market

by The Exchange
June 22, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Tourism

Kenya and Mastercard signs MoU to boost tourism

by FurtherAfrica
June 24, 2022
0

The MoU aims to drive the growth of tourism numbers in Kenya by leveraging various Mastercard channels, including its Priceless.com...

Read more
Opinion: The consequences of Africa’s careless agricultural trade

Nigeria set for 1st National Agricultural Sample Census in decades

June 24, 2022

The 10 most electrified countries in Africa

June 24, 2022

IMF discusses reforms and economic developments in Ethiopia

June 24, 2022

Angola improves financial system

June 24, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?