JOHANNESBURG (miningweekly.com) – Toronto-based mineral exploration and development firm Energizer Resources would undertake a brokered private placement to raise $4.8-million to fund the production of additional graphite concentrate samples at its Molo project, in Madagascar.
The common shares to be issued as part of the placement would have an issue price of $0.14 a share.
The additional graphite concentrate samples would be required for potential offtake groups and end-users of graphite, with which the company was in advanced discussions.
While a pilot-scale plant was already in operation at Molo, Energizer was targeting the start of commercial production of between 50 000 t/y and 150 000 t/y of graphite in 2015.