Why is the Volt Resources (ASX:VRC) share price surging 20% today?

Volt Resources Ltd (ASX: VRC) shares are soaring today following news of the company’s latest acquisition. At the time of writing, the Volt share price is trading at 2.4 cents, 20% higher than yesterday’s close.

This comes after the company advised it has signed binding share purchase agreements to acquire 70% of European graphite producer, Zavalievsky Graphite (ZG).

Let’s look further into the graphite and gold explorer’s new acquisition.

Breaking into graphite

According to Volt, the acquisition will see it move from graphite explorer to graphite producer and place it in a more secure position than that of its peers by removing greenfield financing and development risks.

ZG owns a graphite mine, with processing facilities…