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- New Age Exploration (NAE) has entered back-to-back trading halts ahead of a capital raise
- At this stage, the company hasn’t disclosed how much it intends to raise, but has stated the funding will support its purchase of an exploration tenure
- As a result, company shares will be paused for the rest of the week, or until New Age releases more information about the capital raise
- In July, the company secured a new gold project near De Grey’s (DEG) Hemi discovery in the Pilbara region of WA
- Company shares last traded for 1.2 cents per share on September 21
New Age Exploration (NAE) has entered back-to-back trading halts ahead of a capital raise.
At this stage, the company hasn’t disclosed how much it intends to raise, but has given shareholders a glimpse of what the money will be used for. Currently, New Age is preparing to purchase an exploration tenure.
However, the location of the tenure — and just how much NAE intends to cough up to secure the asset — remains unclear.
As a result, company shares will be paused for the rest of the week, or until New Age releases more information about the capital raise.
In July, the company secured a new gold project near De Grey’s (DEG) Hemi discovery in the Pilbara region of WA.
New Age applied for six exploration licences, covering an area of 1319 square kilometres. The company said it would take steps throughout the September quarter to progress the grant of the exploration licences.
Company shares last traded for 1.2 cents per share on September 21.
