Valence Industries brings Uley Graphite Project in South Australia into play on the ASX
Graphite player Valence Industries (ASX: VXL) has listed on the Australian Securities Exchange after raising $6.7 million from its initial public offering priced at $0.20 per share.
Valence, formerly Strategic Graphite, holds the Uley Graphite Project
in South Australia that had being previously in production.
Uley,
located 23 kilometres from Port Lincoln, is recognised as a substantive
and significant area of graphite mineralisation with one of the largest
flake graphite deposits in the world.
It includes the Uley Graphite plant that was previously capable of producing up to 14,000 tonnes of graphite per year.
This is in need of some refurbishment to become fully operational after it was shut and put into care and maintenance in 1993.
Official quotation of the Company’s securities will commence on Monday, 6 January 2014.
