Kibaran to progress Epanko project with $10.9m capital raise

ASX-listed Kibaran Resources will start key development preparations and initiate expansion studies for its Epanko graphite project in Tanzania, after raising $10.9-million through a share placement. The placement was completed at 23c apiece, representing a 14.8% discount to Kibaran’s last trading price. It was significantly oversubscribed and will result in several major institutional investors becoming shareholders in the company.