Canaccord Genuity acts as Lead Manager and Bookrunner to a AUD$12.3 million private placement for Talga Resources Ltd
Canaccord Genuity is pleased to announce the completion of a placement of 20.5 million shares at an issue price of AUD$0.60 per share, raising gross proceeds of AUD$12.3 million on behalf of Talga Resources Ltd (ASX.TLG). Canaccord Genuity acted as Lead Manager and Bookrunner to the transaction.
The proceeds of the placement will be applied towards the phase 3 test facility expansion in Germany, phase 4 pilot plant front-end engineering, the Vittangi project pre-feasibility studies and Swedish cobalt development, as well as for general working capital purposes.
Talga Resources Ltd is a vertically integrated, ASX-listed technology materials company that is developing and commercialising the world’s highest grade conductive graphite project to mass produce graphene and its derivatives. Talga has its own upstream source of integrated supply from five wholly-owned, advanced and high grade graphite projects, notably the flagship project, Vittangi. In September 2016, the company commissioned phase 2 expansion at its 100% owned test facility, located in Germany, increasing ore treatment capacity to ~30tpa. Talga expects phase 3 expansion to commence at the beginning of Q3 2017.
