Black Rock Mining executives at the signing of a Framework Agreement with the Government of Tanzania. Source: BKT/Twitter.
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  • Black Rock Mining (BKT) enters trading halt as it prepares to undertake a capital raise
  • It is not yet known how much the company is aiming to raise or where the funds will be spent
  • Company shares will be paused until Friday, May 6, or when further details about the raise are released to the market
  • Black Rock Mining is an Australian company developing the Mahenge graphite project in Tanzania, which is the world’s fourth largest graphite resource
  • BKT shares last traded at 27.5 cents per share

Black Rock Mining (BKT) has entered the day in a trading halt as it prepares to undertake a capital raise.

It is not yet known how much the company is aiming to raise or where the funds will be spent.

Under the halt, company shares will be paused until Friday, May 6, or when further details about the raise is released to the market.

Black Rock Mining is an Australian company developing the Mahenge graphite project in Tanzania, which is the world’s fourth largest graphite resource.

The company recently released its third-quarter update, with highlights including the award of its engineering design contract to CPC Engineering for the Mahenge project.

Over the period, the company made significant progress on its debt financing activities while independent expert site visits were carried out with reporting underway.

Black Rock is aiming for 50 to 60 per cent debt via traditional project financing, which the company is aiming to finalise over the next few months.

At the end of the period, the company had $6.7 million in cash and cash equivalents.

BKT shares last traded at 27.5 cents per share on Tuesday, May 3.

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