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

Published: 18:34 08 Oct 2018 EDT

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.

Nimrodel Resources One2One Investor Presentation on 24th & 25th November 09

John Hebenton, MD of Nimrodel Resources, updates investors at the Proactive Investors One2One Forums in Sydney on 24th November and in Melbourne on 25th November 2009

on 11/23/2009