Walkabout Resources Ltd (ASX:WKT) continues to make progress developing its flagship high-grade Lindi Jumbo Graphite Project in southeast Tanzania.
Potential funding options are being progressed with an international investment bank for non-bank debt financing alternatives for the development funding of Lindi Jumbo.
Due diligence activities are underway and detailed discussions are ongoing.
Walkabout confirms it will communicate any material developments as they arise.
READ: Walkabout Resources secures $3.1 million to commence early-state program at Lindi Project
At site, the early start program is progressing to schedule and within budget at the area to host facilities including the processing plant and tailings storage.
While funding discussions and due diligence activities are progressing, the early-start program will continue and be closely managed to ensure a smooth operational start when applicable.
Furthermore, in China, all procurement of out-purchase long-lead time items for the manufacture of long lead items has been completed and manufacturing activities have commenced.
Work programs at other projects also progressing
In addition to the Lindi Jumbo Project, Walkabout is also exploring in southern Namibia at the Eureka Lithium Project and also acquired an exploration portfolio for gold and base metals in Northern Ireland and Scotland.
A small reverse circulation (RC) drill program has been planned at Eureka following pre-drilling exploration work, access agreements are now being sought.
In both Scotland and Northern Ireland, regional pre-drilling exploration continues while required permits for drilling are also being progressed.