Total
0
Shares
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel
Managing Director, Aidan Platel
Source: Auroch Minerals
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Auroch Minerals (AOU) has entered a trading halt regarding a proposed capital raise
  • The materials stock is about to commence drilling at the Ragless Range target within its Arden project to test zinc mineralisation
  • Auroch is also progressing drilling and survey work at the Nepean Deeps target in WA
  • It isn’t clear how much is being raised or how the company will spend the money but these details will be revealed by October 28
  • AOU last traded at 19 cents on Monday, October 25

Auroch Minerals (AOU) has entered a trading halt regarding a proposed capital raise.

The company hasn’t disclosed how much it plans to raise nor how it will spend the funds but all should be revealed by Thursday, October 28 which is when AOU expects to come out of the trading halt.

Auroch did announce yesterday it will soon begin a drilling program at the Arden project in South Australia.

Three to five- diamond holes will be drilled at the Ragless Range target to test sedimentary exhalative zinc mineralisation.

More specifically, the company will largely focus on a significant gravity anomaly that spans over two kilometres and may indicate thickened mineralised horizons of high-grade zinc mineralisation.

Auroch is also progressing drilling at the Nepean Deeps target within the namesake project in Western Australia alongside survey work which is testing massive nickel sulphides.

Whether or not the capital raise will support ongoing exploration is not yet known.

AOU last traded at 19 cents on Monday, October 25.

AOU by the numbers
More From The Market Herald
Serko (ASX:SKO)- CEO, Darrin Grafton

" Serko (ASX:SKO) completes $72m placement

Serko Limited (SKO) has announced the successful completion of its NZ$75 million (A$72 million) placement.
Registry Direct (ASX:RD1)- Founder and CEO, Steuart Roe

" Registry Direct (ASX:RD1) ends week in trading halt

Registry Direct (RD1) has ended the week in a trading halt as it plans an upcoming capital raise.

" Elmore (ASX:ELE) enters trading halt amid capital raise

Elmore (ELE) has requested a trading halt to allow the board to finalise a capital raise.
White Rock Minerals (ASX:WRM) - Managing Director, Matt Gill

" White Rock Minerals (ASX:WRM) enters halt ahead of fundraise

White Rock Minerals (WRM) has placed its securities in a trading halt as it gets ready to raise extra funds through a capital