- Tanzanian graphite developer Black Rock Mining (BKT) has successfully completed a $2 million placement
- More than 40 million shares will now be issued to sophisticated investors, institutional investors, and existing shareholders at 4.9 cents
- This price represents an 11.6 per cent discount to Black Rock’s 14-day volume weighted average price
- Black Rock will use the funds to progress due diligence costs associated with the Strategic Alliance and Development agreement with POSCO Group
- The money will also be used to support continuing discussions with the Government of Tanzania
- Shares in Black Rock are steady and have been trading for 5.8 cents since September 30
