IN BRIEF: Tirupati Graphite remains engaged with strategic investors
Tirupati Graphite PLC - London-based flake graphite supplier with projects in Madagascar and Mozambique - Says talks progressing with strategic investors. Has engaged financial advisers Musst Investments LLP and ViTa-Connect LLC to raise up to GBP3 million to achieve steady state production and sales at a run rate of 20,000 tons per annum at Madagascar project. Further aims to fundraise additional GBP80 million to expand Madagascan projects to 54,000 tons per annum production and to develop a 50,000 tons per annum module at its Mozambican project. Says due diligence has been completed and are in advanced stage of negotiations with a strategic financier. Additionally, remains engaged with government officials for a VAT refund of USD2 million in Madagascar and USD1.2 million in Mozambique. Read More