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Accelerate Resources (ASX:AX8) - Managing Director, Yaxi Zhan
Managing Director, Yaxi Zhan
Source: Twitter
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  • Accelerate Resources (AX8) enters trading halt as it finalises details on a capital raise
  • Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
  • Under the halt, Accelerate shares will be paused until Monday, September 13, or when more details are released to the market
  • On the market, Accelerate last traded at 4.2 cents per share

Accelerate Resources (AX8) has entered into a trading halt as it finalises details on a capital raise.

It is currently unknown how much the company is aiming to raise or where the funds will be spent.

Under the halt, Accelerate Resources will be paused on the market until Monday, September 13, or when more details about the raise is released.

Accelerate is a multi-commodity explorer with gold and industry mineral projects in Australia and Canada.

Last month, the company received encouraging results from test work at its Tambellup Kaolin Project in Western Australia.

The test work on 21 samples from within the project confirm the potential for a high-quality kaolin product with no amorphous phases.

Of these, five samples have been analysed and showed minor halloysite with the highest values being 6.1 and 7.2 per cent.

On the market, Accelerate last traded at 4.2 cents per share.

AX8 by the numbers
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