Wednesday , June 12 2024

Capital scouting for Bunyu moving ahead

Tanzanian-focused flake graphite development company Volt Resources Limited has announced that Bunyu Graphite project’s environmental approvals continue to progress in line with expectations, with the National Environment Management Council (NEMC).

On the backdrop the company is working on the US$40 million Note Issue with the Tanzanian Capital Markets and Securities Authority (CSMA) and the Dar es Salaam Stock Exchange (DES).

“Both regulators are currently conducting their review process,” said Trevor Matthews, Chief Executive Officer of Volt Resources.

He said there is no prescribed timeframe for the completion of the review process.

“However, based on previous note issues the initial review generally takes three weeks to receive feedback from the regulators. Therefore, Volt expects to receive feedback from the regulators later this month,” said Matthews.

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