viewVolt Resources Ltd

Mozambi Resources logs heavy investor demand for Tanzanian graphite development


Tanzanian graphite developer Mozambi Resources (ASX:MOZ) has moved out of a trading halt to raise $4.5 million at $0.033 each reflecting the strong interest in its graphite project.

This included an additional $1.87 million that was accepted in over-subscriptions and the company is funded to now complete a Pre-Feasibility Study for development at Namangale.

Interest was strong from sophisticated investors with Taylor Collison as lead manager and interestingly supported by the vendor of the project as well as from directors and major shareholders.

The Namangale Project in Tanzania has a 179 million tonne resource at 5.1% graphitic carbon but it is the metallurgical results that show a very high proportion of super jumbo (+500μm) and jumbo (+300μm) flake sizes that provides a platform for a development case.

Mineralisation at the three drilled deposits, occurs from surface and bullishly is open in all directions.

Stephen Hunt, previously a non-executive director has been appointed executive chairman to oversee off take negotiations and financing, leveraging his experience with Magnis Resources (ASX:MNS) where he secured finance and off take agreements.

As Hunt put it, "...Mozambi is progressing Namangale towards production...and Mozambi is on the way to providing a key ingredient of clean battery cell technology."


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Quick facts: Volt Resources Ltd

Price: 0.018 AUD

Market: ASX
Market Cap: $36.37 m

Add related topics to MyProactive

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


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 Volt Resources Ltd named herein, including the promotion by the Company of Volt Resources Ltd in any Content on the Site, the Company receives...


2 min read