Battery Minerals raises A$20m to fast-track Montepuez, Balama graphite projects

ASX-listed Battery Minerals has received commitments from institutional, sophisticated and professional investors to raise A$20-million to fund its next phase of growth at its Mozambique-based graphite projects. Some A$19.5-million is being raised through a share placement at 6c and A$500 000 through a drilling-for-equity arrangement, with the proceeds fully funding the drilling programme and the planning and early development works at the Montepuez graphite project and accelerating the definitive feasibility study (DFS) at the Balama graphite project.