(MENAFN- ProactiveInvestors)
Tanzanian graphite play () has been granted a trading halt by the ASX pending capital raising details.
Kibaran remains on track to deliver the Bankable Feasibility Study for its Epanko Graphite Project by the end of June 2015.
Just last month Kibaran received an Expression of Interest (EOI) from a Development Finance Institution to co-finance development of Epanko.
The EOI increases confidence that production at Epanko will commence in 2016.
Epanko currently has a JORC Indicated and Inferred Resource of 22.7 million tonnes at 9.8% TGC for 2.223 million tonnes of contained graphite.
With this estimate only covering 20% of the project area the resource could be just the tip of the iceberg.
The halt will remain in place until the opening of trade on Friday 17th April 2015 or earlier if an announcement is made to the market.
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