BlackEarth Minerals NL (ASX:BEM) shareholders have fully paid the balance on an additional 900,000 partly paid shares in the company, boosting the cash balance by $35,910.
The shareholders paid $0.0399 for each BEMAC share with around 6,586,826 BEMAC shares remaining on issue.
A statement will be issued shortly to those shareholders who paid all outstanding amounts on their BEMAC holdings.
BlackEarth has requested that the ASX changes the designation of these 900,000 shares to the ASX code BEM and reduce the number of BEMAC by 900,000 part paid shares.
Graphite program confirms high-yields
The company recently rounded out its large-scale Maniry graphite pilot program, with results indicating the Madagascan project hosts some of the world's highest-grade, large and jumbo flake product.
Overall, the pilot program confirms the Maniry large flake graphite concentrate can feed its proposed expandable graphite production plant with JV Partner Metachem, in addition to its suitability for lithium-ion batteries.
The results are set to support BEM as it designs the final graphite plant at Maniry and fast-tracks a definitive feasibility study (DFS).