Sarytogan Graphite Limited (ASX: SGA) has received A$1.4M in cash from the European Bank for Reconstruction and Development (EBRD), completing a previously agreed top‑up placement and further strengthening funding for development of the Sarytogan Graphite Project in Kazakhstan.
The funds relate to the issue of 17,457,264 shares at A$0.08 per share, first agreed in November 2025. All required approvals for the investment have now been secured, including authorisation from Kazakhstan’s Ministry of Industry and Construction, a ‘no objection’ determination from Australia’s Foreign Investment Review Board, and shareholder approval at Sarytogan’s extraordinary general meeting held on 25 March 2026.
The EBRD investment follows the receipt of A$2.05M from Kazakh investor Dias Sarsenov, announced in March, and results in Sarytogan’s three largest shareholders – EBRD, Sarsenov, and founding director Dr Mueller – collectively holding more than 50% of the company’s fully paid ordinary shares.
Sarytogan intends to apply the EBRD funds toward completion of the Definitive Feasibility Study for the upstream development of the Sarytogan Graphite Project. Additional workstreams to be supported include environmental approvals, product marketing and financial structuring beyond the DFS stage.
The company confirmed that the DFS remains on track and views the completion of funding approvals as an important step in de‑risking the project and advancing it toward development readiness.
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