Australian technology minerals company, Talga Resources has put in place a funding initiative to raise gross proceeds of A$12.3 million. Binding commitments have been received for the Placement which is due to settle on June 9 2017.
- Placement strengthens Talga register with introduction of targeted institutional investors and includes significant participation from existing major shareholders
- Proceeds provide means to continue delivery on Talga’s technology minerals strategy
- Secures balance sheet towards December 2018 options expiry and key development milestones.
Talga Managing Director Mark Thompson: “Talga is delighted to have secured strong support from what has been a targeted exercise designed to strengthen the register with new long term institutional investors. The deal also comprised significant follow-on investment from a range of major shareholders.
“Amongst other things, the funds will specifically support Talga’s continuing production process development and facility scale-up in Germany, expansion of the graphene product development team and facilities in the UK and completion of a prefeasibility study for the Vittangi project (pictured). Importantly, the cash-flow budget will now align with a significant potential cash inflow at or before December 2018 when ~A$24 million worth of listed and unlisted options are due to expire.”
Talga Resources is a technology minerals company enabling stronger, lighter and faster products for the coatings, battery, construction and carbon composites markets using graphene and graphite. Talga has significant advantages owing to 100% owned unique high grade conductive deposits in Sweden, a pilot test facility in Germany and in-house graphene product technology.
Testing of Talga materials and products is underway with a range of corporations including industrial conglomerates Tata and BASF subsidiary Chemetall, UK listed Haydale and German based Jena Batteries.
Talga also provides an update on initial benchmark testing of its graphene in Lithium-ion batteries manufactured at the Warwick Manufacturing Group’s Energy Innovation Centre, University of Warwick in the UK.
- Excellent battery capacity (energy storage) exceeding that of graphite industry average by ~27%
- Low capacity losses (reversible capacity >99.5%)
- High stability (coulombic efficiency 99.9%).
The Talga graphene source material was not subject to costly milling, shaping or coating steps of typical graphite anode manufacturers. The results were achieved using Talga’s bulk graphene nanoplatelets (GNP), rather than Talga’s few layered graphene materials (FLG) – raises potential to compete at today’s anode market cost structure.
Partnerships to develop material for European and Asian Li-ion battery end users are being assessed.