Volt Resources Ltd (AU:VRC) has released an update.
Volt Resources Ltd has announced a capital raise of $500,000 through Convertible Notes to refinance an existing loan and bolster its US downstream operations. The company, focused on graphite production and battery materials, has demonstrated fiscal discipline by halving its cash outflows in FY 2024 and has committed to further cost reductions, including taking director and consultancy fees in equity. The capital raise is managed by Peak Asset Management, with the Convertible Notes secured against Volt’s Bunyu Graphite project, and has a 12-month term with a 12% per annum coupon.
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