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- Graphite company EcoGraf (EGR) has entered a trading halt in regards to an upcoming capital raising
- The company will remain in the halt until February 12 or when an announcement is made, whichever occurs first
- A few days ago, EcoGraf appointed ASX-listed GR Engineering Services (GNG) to engineer its new battery graphite facility in Western Australia
- This processing facility will use EGR’s purification technology to create high-quality and sustainable battery anode products
- Taking a look at its financials, EcoGraf burnt $565,000 in the December quarter with the majority going towards administration, corporate and staff costs
- As of December 31, EcoGraf had just over $2.05 million in funding available, representing 3.3 quarters of use if spending levels remain the same
- Shares in EcoGraf last traded at $1 on February 9
Graphite company EcoGraf (EGR) has entered a trading halt in regards to an upcoming capital raising.
The company will remain in the halt until February 12 or when an announcement is made, whichever occurs first.
EcoGraf is yet to disclose how much it intends to raise or what it will do with the funds once received.
A few days ago, EcoGraf appointed fellow ASX-listed GR Engineering Services (GNG) to engineer its new battery graphite facility in Western Australia.
This processing facility will use EGR’s purification technology to create high-quality and sustainable battery anode products to electric vehicle and lithium-ion battery manufacturers.
Upon completion, this facility will be the first battery graphite processing facility outside of China.
Additionally, EcoGraf is planning additional facilities in key geographical markets to meet the demand for battery anode material products.
Taking a look at its financials, EcoGraf burnt $565,000 in the December quarter with the majority going towards administration, corporate and staff costs.
The company also invested $52,000 in exploration and evaluation.
As of December 31, EcoGraf had just over $2.05 million in funding available, representing 3.3 quarters of use if spending levels remain the same.
Shares in EcoGraf last traded at $1 on February 9.
