The company on Thursday said that it had received firm commitments from a select group of institutional, sophisticated and professional investors for the placement of up to 20-million new fully paid ordinary shares, at a price of 50c each.
The shares will be issued under the company‘s existing placement capacity, and will not require shareholder approval.
“This strategically sized placement will enable Talga to execute the next steps in building its lithium-ion anode production facilities in Europe, while maintaining a tight capital structure to provide shareholders best leverage to project success,” said Talga MD Mark Thompson.
“The raising also strengthens our position as we enter deeper finance discussions with multiple potential project partners.”
The funding would go towards scaling-up manufacturing of the Talnode-C customer samples, progressing the commercial detailed feasibility study for the Vittangi anode project, in Sweden, and to fund expansion, infill and geotechnical drilling to better define the ultimate tonnage potential of the Vittangi graphite project, and to support mine planning.
