EcoGraf Advances Debt Financing for Epanko Graphite Project

EcoGraf Limited has announced significant progress in securing debt financing for its Epanko Graphite Project. The company has engaged KfW IPEX-Bank to organize a senior secured loan of up to $105 million, utilizing the German Untied Loan Guarantee scheme. A recent indication from Germany's Inter-Ministerial Committee suggests eligibility for import credit cover under this program.

The UFK scheme aims to facilitate the development of essential mineral projects for German industries. An Independent Expert's assessment is required to proceed with the Preliminary Approval for credit cover. EcoGraf is addressing questions raised by the Independent Engineers Report to finalize the bank's financing model.

Engagements with KfW IPEX-Bank are ongoing to optimize commercial terms and funding structures. Securing comprehensive financing will support EcoGraf's efforts to submit the proposal to Euler Hermes, a crucial step for binding cover approval from the German Government.