trending Market Intelligence /marketintelligence/en/news-insights/trending/lYIBNlyCWJ2kM1CE0j6gXQ2 content esgSubNav
In This List

Talga secures institutional commitments to raise A$12.3M

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Talga secures institutional commitments to raise A$12.3M

Talga Resources Ltd. secured binding commitments for a placement to raise gross proceeds of about A$12.3 million, the company said June 5.

The company will issue 20.5 million fully paid shares at 60 cents apiece to a small group of targeted institutions under an oversubscribed placement.

A group of Talga's major shareholders, including the Smedvig Family Office and Yandal Investments strongly supported the financing, which is expected to settle June 9.

The proceeds will go toward the company's commercial, processing, product development and mineral development programs in Europe, as well as general working capital.

The funds will specifically support Talga's continuing production process development and facility scale-up in Germany, expansion of the graphene product development team and facilities in the U.K. and completion of a prefeasibility study for the Vittangi graphite project in Sweden.

In addition, the transaction secured the company's balance sheet until December 2018, when A$24 million of listed and unlisted options are due to expire.