Australian advanced materials technology company, Talga Resources, has announced an oversubscribed institutional placement that raised proceeds of approximately $8.5 million AUD (around $6.3 million USD). The oversubscribed placement was undertaken following in-bound interest from several new, high-quality institutional investors, in turn strengthening the Company’s share register.
The Company plans to apply the Placement proceeds towards further business growth and development including: Li-ion battery graphite and graphene product development (and scale up of battery anode commercial samples towards product marketing/offtake agreements), graphite resource to reserve conversion and advanced feasibility studies, cobalt project development including drilling and establishment of maiden JORC resources, exploration, metallurgy and preparation for potential cobalt IPO, general working capital and business development.