Sarytogan Graphite announces EBRD equity investment

Sarytogan Graphite Limited (ASX: $SGA) has entered into a share subscription agreement for a placement of A$5M to the European Bank for Reconstruction and Development (EBRD). The investment will support the Sarytogan Graphite Project in Kazakhstan and contribute to the Company's strategic objectives.

Executive commentary on EBRD investment

Sarytogan Managing Director, Sean Gregory, expressed delight in attracting the investment from EBRD, emphasizing the endorsement of the Company's governance and the quality of the Sarytogan Graphite Project. Natalia Lacorzana, Director for Natural Resources at EBRD, highlighted the Bank's commitment to supporting the global transition to a green economy and the wider adoption of electric vehicles through funding junior miners of critical raw materials.

Summary of EBRD investment and outlook

Sarytogan Graphite's agreement with EBRD for a A$5M investment marks a significant milestone in advancing the Sarytogan Graphite Project. The investment will facilitate the progression of environmental permitting and early works on a Definitive Feasibility Study, aligning with the Company's goal to supply high-quality anode pre-cursor material for the electric vehicle battery market. With the Pre-Feasibility Study set to be published soon, Sarytogan is poised to leverage the EBRD funds to further develop the project and contribute to the global green economy initiatives.