Volt Resources Ltd (ASX:VRC, OTC:VLTRF) advises that RiverFort Global Opportunities PCC Ltd has agreed to proceed with a second advance of A$500,000 to support the company’s strategy to become a leader in the graphite market.
The established graphite producer and natural graphite anode developer secured the loan from RiverFort Global, totaling up to $1 million, in April 2024. Pursuant to that agreement, RiverFort Global advanced A$250,000 to Volt, which was repaid in August.
RiverFort Global has now agreed to proceed with the second advance of A$500,000, pursuant to the terms of the April agreement.
The Riverfort Global funding forms part of Volt Resources' broader, non-dilutive funding strategy aimed at supporting its US and European operations.
Volt Resources has strategically focused on selling high-value, high-margin graphite products from its European facilities amid the current low-price graphite market. Although challenges persist in securing financing for new projects, progress continues with additional financial initiatives underway.
Volt is also exploring opportunities to secure substantial grant funding, potentially exceeding $150 million.
Read more: Volt Resources Pursues Non-Dilutive Funding Programs, Eyes Over 150 Million in Potential Funding