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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (111358)	3/18/2015 7:23:27 PM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Talga raises cash to fund graphite projects 18th March 2015 By: Esmarie Swanepoel miningweekly.com PERTH (miningweekly.com) – Graphite developer Talga Resources is hoping to raise A$5.5-million to fund the construction of its German graphene demonstration plant and to develop its Swedish graphite projects. The ASX-listed company said on Wednesday that it had received firm commitments to place 13.75-million ordinary shares, at 40c each, to domestic and international institutions and sophisticated investors. The placement would increase Talga’s issued capital by some 11%, and would not require shareholder approval as it fell within the company’s 15% placement capacity. “Talga is delighted to secure this equity capital injection that will strengthen the balance sheet and add depth to the register. Additionally, it will provide the means to accelerate and expand opportunities to commercialise graphene through strategic relationships with industry,” said Talga MD Mark Thompson. The proceeds from the placement would go towards trial mining in Sweden, construction of the demonstration graphene production plant in Germany, and continued exploration and development work. Pending Swedish trial mining approval in the second quarter of this year, graphite ore from Sweden would be transported directly to the demonstration plant for maiden processing in the third quarter of this year. The German plant would produce between 100 t/y and 200 t/y of graphene, with feedstock sourced from Talga’s Swedish projects.