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Talga successfully completes A$40M institutional placement; funds for anode project

Battery and advanced materials company Talga Group (earlier post), with 100% owned graphite resources in Sweden, has received firm commitments for a placement of new fully paid ordinary Talga shares to raise A$40 million (US$27.3 million) before costs.

Proceeds will be used to fund the Vittangi Anode Project early works, including earthworks and site infrastructure at the Luleå anode refinery site, commencement of procurement of anode equipment and detailed engineering, scaled up EVA (electric vehicle anode) production, silicon anode scale-up (Talnode-Si is a Gr-Si composite) including securing commercial site, and general working capital (including costs of the placement).

The Vittangi project will use 100% renewable electricity to extract graphite, an EU defined critical material, and refine it into coated anode for Li-ion batteries. The first stage of the project will produce 19,500tpa of anode for 24 years from the integrated mine-to-anode operation.

Expansion plans towards more than 100,000tpa production support Talga’s aim of becoming one of the world’s largest battery anode producers, by manufacturing high performance graphite battery materials within Europe from large high grade deposits in Sweden.

The oversubscribed placement, managed by Euroz Hartleys Limited as sole lead manager and bookrunner, was strongly supported by a range of new and existing investors. BurnVoir Corporate Finance acted as financial adviser to the company.

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