Volt Resources Ltd (ASX:VRC) has been granted a trading halt by the ASX as it prepares to make a capital raising announcement.
The halt will remain in place until the start of regular trade on Wednesday, September 1, or until an announcement is released to the market, whichever occurs earliest.
Innovative flowsheet design
Volt has utilised an innovative inverted flowsheet design to produce coated spherical purified graphite (CSPG) for battery anode material with graphite from the Bunyu project in Tanzania.
This process, which is part of ongoing test-work including lithium-ion batteries (LIB) cell cycle testing using CSPG produced from Bunyu graphite, has yielded graphite products suitable for high-value commercial applications.
The testing is being undertaken by established commercial graphite producer and processor, American Energy Technologies Co (AETC) which is headquartered in Illinois, USA, as part of a technology integration program including long-term cycle testing of Bunyu graphite for LIBs.
Bunyu has one of the largest JORC graphite resources in the world with plans for stage 1 development to produce 23,600 tonnes per annum that can be increased to 170,000 tonnes in stage 2.
Transforms to producer
Volt recently completed the acquisition of a controlling 70% interest in the Zavalievsky group of companies (ZG Group), which transformed it into a graphite producer.
The ZG Group plans to install a processing plant and equipment to start production of spherical purified graphite (SPG) for the European and US LIB anode market within the next 12 months.
Zavalievsky mine’s strategic location for the future supply of SPG to the European market has already attracted interest from LIB cell manufacturers and major carmakers.
With two world-class graphite resources incorporated in a strategically located operating mine
and processing plant in Ukraine along with a development-ready project in Tanzania, Volt is well-positioned to become a globally significant graphite producer.
Volt plans to become a battery anode material producer in Europe and the United States based on an integrated supply chain using graphite manufactured from its own operations.
This provides security and continuity of supply for the business and the ability to manage product quality through the graphite supply chain through to the LIB cell manufacturers and for other graphite product end-users.