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- Mineral resource company Astro Resources (ARO) has entered a trading halt ahead of a capital raise
- At this stage, it is unknown how much the company intends to raise and what the funds will be used for
- This means Astro’s shares will be paused until Wednesday, August 26, or when it releases more details about the capital raise
- In its latest investor presentation on Friday, Astro detailed how it advanced the Governor Broome Minerals Sands project to approximately 52 million tonnes of JORC indicated resource
- Now, the company plans to kickstart a pre-feasibility study at the project in 2021
- Astro last traded for 0.6 cents per share on August 21
Mineral resource company Astro Resources (ARO) has entered a trading halt ahead of a capital raise.
At this stage, it is unknown how much the company intends to raise and what the funds will be used for. However, on Friday, August 21, the company did say its short term goal is to raise funds for the development of its projects.
Company shares will be paused until Wednesday, August 26, or when it releases more details about the capital raise.
In its latest investor presentation on Friday, Astro detailed how it advanced the Governor Broome Minerals Sands project to approximately 52 million tonnes of JORC indicated resource. Now, the company plans to kickstart a pre-feasibility study at the project in 2021.
Governer Broome is located in the southwest of Western Australia on the South Coastal Plain. By road, it is about 95 kilometres south of Busselton.
Astro last traded for 0.6 cents per share on August 21.
