Kibaran raises $2m for Tanzania graphite project

Australian junior Kibaran Resources is poised to finalise project financing for development of its Epanko graphite project, in Tanzania, after raising $2-million through a share placement at 15c apiece. As an additional funding mechanism, the placees would receive one free attaching option for every two shares subscribed. The options were exercisable at 20c apiece and expired six months from the date of issue.