Sarytogan Graphite Limited (ASX: SGA) has announced a top-up placement agreement with the European Bank for Reconstruction and Development (EBRD), adding A$1.4M to its funding pool for the ongoing Definitive Feasibility Study (DFS) at its flagship graphite project in Central Kazakhstan.
Sarytogan Managing Director Sean Gregory commented, “This placement reflects the growing confidence in the Sarytogan Graphite Project and the relationship between the EBRD and the Company. The A$1.4M placement is a top-up to the A$5M investment by EBRD last year and to the A$3.6M placement with Kazakh Investor Dias Sarsenov; all part of the overall funding package for the Definitive Feasibility Study underway and on track for completion in mid-2026.”
The placement will issue 17,457,264 shares at A$0.08 per share, raising A$1,396,581. Completion is subject to several customary conditions, including:
- Shareholder approval at the upcoming AGM on 13 November 2025.
- Consent from Kazakhstan’s Ministry of Industry and Construction (MIC) for EBRD to receive the shares, following MIC’s prior approval for both EBRD and Sarsenov on 31 October 2025.
- Finalisation of the A$3.6 million placement to Mr. Sarsenov, pending his Sub Soil Use Consent.
- Completion by 18 December 2025 to align with EBRD’s existing Foreign Investment Review Board notification.
The placement price mirrors the terms of the Sarsenov transaction in August 2025, reinforcing valuation consistency across strategic investments.
Additionally, the Project Support Agreement will be amended to allow EBRD to nominate a board observer, supplementing its existing independent non-executive director role.
Upon completion, EBRD’s stake in Sarytogan will increase from 17.3% to 19.99%.
To read more about this, please visit https://www.sarytogangraphite.com.au/
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