Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Australian company raises funds for graphite exploration in Sri Lanka
Mon, Mar 24, 2014, 01:10 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 24, Perth: Bora Bora Resources Limited, an Australian graphite exploration company, focused on the Matale Graphite Project in Sri Lanka has raised Aus$ 840,000 for graphite exploration in the island.

The Perth-based graphite explorer said in a disclosure to Australian Security Exchange that the shares were placed to an institutional alternative asset manager and the placement also included a 1-for-3 free attaching unlisted option, exercisable at $0.40 anytime up until 31st March 2017.

The funds raised under the placement will be applied towards further exploration work at the Company's Sri Lankan assets including the Matale Graphite Project and for working capital purposes.

Chris Cowan, the Executive Director of Bora Bora Resources said the placement to investors, including a leading global institutional alternative asset management firm, demonstrates strong support for the potential of the company's Sri Lankan exploration assets and the overall sector.

BBR has acquired a 75% interest in the Matale Graphite Project near Kandy in Sri Lanka, through a deal with Plumbago Mining Pty Ltd announced in 2012.

Sri Lanka has a longstanding reputation for its high quality crystalline vein graphite with purity levels ranging from 80-99% of carbon.

** Related Story :: Australian graphite explorer gets additional license to mine high grade graphite in Sri Lanka

ColomboPage - Recent 10 Stories
Sri Lankan President calls on SAARC nations to join forces against external threats
-- [0 minutes ago]
Another Sri Lanka ruling party MP joins opposition
-- [5 hours ago]
UNP General Secretary will not crossover to government, pledges to support common candidate
-- [5 hours ago]
MDMK leader celebrates Sri Lanka's slain terrorist leader's 60th birth anniversary
-- [6 hours ago]
Sri Lanka's extremist Buddhist group promotes racial and religious violence against minorities - UN report
-- [7 hours ago]
Sri Lanka annual Bank Directors' Symposium today
-- [8 hours ago]
18th SAARC Summit begins in Kathmandu
-- [8 hours ago]
Defense Ministry to acquire Lanka Cement factory premises in Kankasanthurai
Sri Lanka to invite foreign election monitors, but not UN monitors
Japan Airlines and SriLankan Airlines launch codeshare cooperation

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.