Syrah aiming to raise A$110m for Mozambique project

September 19, 2017

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Graphite developer Syrah Resources is hoping to raise A$110-million through a share placement and pro-rata accelerated nonrenounceable entitlement offer to fund the development of its Balama project, in Mozambique, and to provide working capital.

The company said on Tuesday that some 7.4-million new shares would be offered to eligible institutional investors at A$3.38 each, to raise an initial A$25-million.

Category: General