Tirupati Graphite raises finance to fund Suni acquisition

The British graphite company Tirupati Graphite on Tuesday revealed that it has raised five million pounds (about 6.1 million US dollars, at the current exchange rate) through an institutional and private placing of 14,285,714 new ordinary shares at 35 pence each.

Tirupati explained in a note to investors that the funds will ensure that the company has the financial resources to meet all its obligations to complete the 3.5 million pound acquisition of Suni Resources along with working capital to develop Suni’s graphite mining projects.

Suni is the Mozambican subsidiary of Battery Minerals which holds concessions to mine graphite at Balama and Montepuez in the northern province of Cabo Delgado.

Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India, with a vision of developing a world-leading benchmark flake graphite company. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Tirupati Graphite plc

More articles like this

Tirupati Graphite plc

Unlocking profits from Graphite

Uncover the rising prominence of graphite in the global energy transition and its lucrative investment opportunities.

Tirupati Graphite plc

Madagascar’s Graphite Boom

Discover why graphite mining in Madagascar is gaining global attention. Learn about the country’s high-quality resources and its role in the graphite supply chain.

Tirupati Graphite plc

A game-changer in energy, industry and innovation

Graphite: the versatile material shaping our future. From powering electric vehicles to enhancing industrial efficiency, its role is paramount in advancing technology and sustainability. Discover how Tirupati Graphite PLC (LON:TGR) is a leader in the industry, delivering high-quality graphite and graphene worldwide.

Tirupati Graphite plc

Mozambique’s growing mining industry

Explore the growth of Mozambique’s mining sector at the German-African Business Summit, with insights on industry opportunities and future prospects.

Tirupati Graphite plc

Tirupati Graphite restructures Board to strengthen leadership

Tirupati Graphite plc (LON:TGR, TGRHF.OTCQX), the specialist flake graphite company and producer of this critical mineral for the global energy transition, has announced a significant restructuring of its Board of Directors pursuant to the Board restructuring plan

Tirupati Graphite plc

The global importance of Graphite

Explore the significance of graphite in today’s industrial landscape, driven by its essential properties and widespread applications in various sectors.