This week there have been a series of key announcements from Australian and Canadian listed graphite prospectors. Following its rights issue, Aussie-listed Kibaran Nickel is gearing up to finalise the purchase of Tanzgraphite. The latter’s portfolio holds over 1,308km2 of Tanzanian graphite plays – namely the Mahenge and Arusha projects.
The A$900,000 ($925,434) rights issue offered shareholders approximately 12.8m shares valued at A$0.07 per share. The move also allows Kibaran to tap Mahenge project’s most prospective zone – Ndololo – which has the potential to yield between...