EcoGraf Secures $105M Loan, Appoints New Head of Projects for Tanzanian Graphite Project
EcoGraf Limited (ASX: EGR) has announced significant management changes and key appointments for its Epanko Graphite Project in Tanzania. The company has secured a mandate with KfW IPEX-Bank for a senior secured loan facility of up to US$105 million and is nearing completion of its debt financing program for Epanko.
EcoGraf has appointed Michael Bourguignon as the new Head of Projects for Tanzania. He brings extensive African mining development experience to the company. Meanwhile, Maria Du Plooy has been promoted to General Manager - Finance and Joint Company Secretary. EcoGraf's proprietary HFfree® purification technology has achieved 99.95% carbon purity without using hydrofluoric acid.
The company is developing a vertically integrated battery anode materials business, with over US$30 million invested to date. It is also nearing completion of its debt financing program for Epanko, with the Independent Engineer's Report expected shortly. David Drabble, currently Chief Geologist, will assume senior site responsibilities at Epanko. Unfortunately, CFO Howard Rae has resigned due to health concerns but will continue supporting the Epanko debt financing program in a consulting capacity.
EcoGraf has secured a significant loan facility and made key appointments to drive its Epanko Graphite Project forward. The company's innovative technology and experienced team position it well for future growth. The completion of the debt financing program is expected soon, with the Independent Engineer's Report imminent.
