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The funding required Australian and Chinese regulatory approvals, which were expected in July, weeks after the deal was announced in June.
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JHT is spending $19.5 million and now has 34% of the Mozambique-focused Triton via the issue of new shares at 4.1c and the acquisition of Shandong Tianye's 19.3% stake in the ASX-listed, graphite company for $11 million at 6.2c.
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The deal includes provision of financial support to finalise Ancuabe's debt requirements.
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The company can now begin detailed engineering and placement of orders for long lead items with its contractors and suppliers.听
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Triton, which was placed into administration in 2016 but re-emerged the same year, had cash at bank of $120,063 at the end of September, and has been advanced interim debt of $4.7 million since July.
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The loans are unsecured, with an annual interest rate of 11%, accrued monthly, with the interest due when the principal is repaid.
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Ancuabe has a maiden reserve of 24.9 million tonnes at 6.2% total graphite content.
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The definitive feasibility study forecast a 27-year mine life based on producing 60,000t of graphite concentrate each year.
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Triton has binding offtake deals for more than half its production.
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Shares in the junior were up 14% this morning to 4.1c, valuing the company at $38 million.听
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Triton has traded between 3.6-6.7c over the past year.听
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Prior to the JHT deal, almost half the stock was controlled by the top 20 shareholders. The directors and management will still own 35%.
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