Ryzon Materials Ltd (ASX:RYZ) Expands Engineering Agreement and Secures Capital Raising with Xinhai
Expanded Engineering Agreement
Ryzon Materials Ltd has signed an expanded contract for detailed engineering design for the Nachu Graphite Project with Yantai Xinhai Mining Research & Design CO., LTD (Xinhai). The agreement adopts a staged approach to fast-track first production, aiming to commence at 80,000tpa.
Capital Raising Details
The detailed engineering contract is valued at $3.5 million, with $2.8 million covered by issuing 66 million shares and 33 million options at $0.05 per share, subject to shareholder approval at the upcoming AGM in November 2025. Additionally, Xinhai has agreed to a $500,000 placement in Ryzon for working capital.
Executive Comments
Xinhai Chairman Mr Yunlong Zhang commented, “We have conducted numerous site visits at Nachu and have been working on the detailed engineering for the past couple of months. We have no doubts about the quality and uniqueness of the Nachu graphite and will continue to support the Company and Nachu.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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