Volt Resources (VRC)

Business description

Volt Resources is a graphite development company. Its main asset is the currently 100%-owned Namangale graphite project located in Tanzania. Volt is currently debt free.

Stock data

Market cap.A$24.4m
Last closeA$0.03
High / Low (52 weeks)A$0.1 / A$0.0
Stock market listingAU
Forecast net cash (A$m)1.3
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(7.4)(21.9)(66.7)
Relative *(7.3)(21)(67.6)

* % Relative to local index

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Company news

Volt Resources Ltd in ASX trading halt

Tue, 17 May 2016 04:52:52 GMT

Volt Resources Ltd's share ride higher on expandable graphite results

Thu, 10 Aug 2017 01:30:00 GMT

Volt Resources Ltd (VRC.AX) Shares Needle Moving -4.00%

Thu, 17 Aug 2017 03:33:45 GMT

Volt Resources welcomes new chairman to the board

Thu, 03 Aug 2017 23:48:45 GMT

Volt Resources Ltd awaits news from Tanzania

Mon, 03 Jul 2017 04:04:58 GMT

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (0.7) (0.7) (0.3) N/A N/A
2016A 0.0 (3.4) (3.3) (0.7) N/A N/A
2017E 0.0 (2.3) (2.4) (0.2) N/A N/A
2018E 0.0 (2.2) (2.4) (0.3) N/A N/A

Last updated on 28/07/2017

Latest research

Investment summary

Volt Resources’ small A$1m convertible loan issue will be used for general working capital purposes. Obviously, of greater importance is the ultimate result of current proposed changes to the Tanzanian mining code. From our view of current events, this appears to relate to the issue of old highly favourable tax arrangements with gold miners. As such renegotiation of these existing agreements will not affect Volt, which does not have one as it is a pre-development mining company. Overall, the changes seem to be focused on precious metal and gemstone mining, and graphite (an industrial mineral) has its royalty level of 3% unchanged.

Last updated on 28/07/2017

Industry outlook

The current PFS to develop Namangale (on which base our valuation is being revised) is in two stages. Stage 1 involves the potential to build a 10-20ktpa mine and bring it on line mid-2018. Stage 2 developments are targeted for completion by 2020, with further expansions potentially increasing output by up to 170ktpa, linked to market demand.

Last updated on 03/07/2017

Key management

Stephen Hunt , Chairman
Trevor Matthews, CEO

Company address

Level 5, London House
216 St. Georges Terrace
Perth
WA 6000
Australia
+61 (08) 9486 7788
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