Volta raises $2.5m for Pilbara exploration

Perth-based Volta Mining has raised $2.5 million to advance its exploration efforts at the DSO Newman iron ore project in the Pilbara and has completed the acquisition of Pilbara Commodities.

The company will also use the raised capital for its Mbombo and Kango iron ore projects in Gabon.

All conditions have now been met regarding Volta’s acquisition of Pilbara Commodities, which holds the Newman DSO project.

CPS Capital Group were underwriters to the fund raising.

In obtaining Pilbara Commodities, Volta now holds a 100 per cent interest in 19 exploration licences in the Pilbara region.

“We are pleased with the support received from sophisticated investors and our existing shareholders for this fund raising and are eager to further our exploration of Volta Mining’s projects with the aim of creating additional value for our shareholders,” Volta managing director David Sumich said.

In addition to Volta’s iron ore projects in the Pilbara and Gabon, the company holds a portfolio of gold projects in Burkina Faso.

Shares in Volta have not moved and are trading at 9 cents per share, as of 7:40am, WST.