Walkabout Resources Ltd (ASX:WKT) is making great strides to secure the financing required to fully fund the Lindi Jumbo Graphite Project in Tanzania into development and production. The latest step has seen the company close a 1 for 10 non-renounceable entitlement issue with Walkabout to reel in more than $7.6 million in funding, with new shares slated for issue on July 12 and quotation set to occur the following day. During the raise, shareholders subscribed for just over 20 million of the 38 million shares on offer, raising slightly more than A$4 million. Walkabout’s entitlement offer was underwritten, meaning a suite of shareholder underwriters, including the company chairperson, will pick up more than 18 million shortfall shares between them to raise the full A$7.6 million.