logo-loader
viewWalkabout Resources Ltd

Walkabout Resources plans capital raising to expedite development of Lindi Jumbo Graphite Project

Walkabout Resources Ltd (ASX:WKT) chairman Trevor Benson updates Proactive Investors on the explorer’s underwritten $3-million share purchase plan (SPP) that will open next Friday, October 12.

Funds raised under the SPP will be used to progress development of the Lindi Jumbo Graphite Project in southeastern Tanzania where the company was recently granted a mining licence. With current cash reserves of circa $5 million, the company will have circa $8 million cash at bank upon completion of the SPP before costs.

“With our very strong cash position after this raising we’ll be able to look at alternatives in terms of quasi-debt, debt, soft loans … and we’re looking at a whole raft of different [funding] structures,” Benson says.

Quick facts: Walkabout Resources Ltd

Price: 0.32 AUD

ASX:WKT
Market: ASX
Market Cap: $101.8 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Walkabout Resources Ltd named herein, including the promotion by the Company of Walkabout Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read