Bastion Minerals (ASX:BMO) - Executive Director, Ross Landles
Executive Director, Ross Landles
Source: Bastion Minerals
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  • Bastion Minerals (BMO) enters into a trading halt as it plans an upcoming capital raise
  • Currently there are no details on how much the company is aiming to raise or where the money will be spent
  • Company shares will be paused until Monday, September 13, or when more information is released to the market
  • On the market, Bastion Minerals last traded at 24 cents per share

Bastion Minerals (BMO) has entered into a trading halt as it plans an upcoming capital raise.

There are currently no details on how much the company is aiming to raise or where the funds will be spent.

Under the halt, company shares will be paused until Monday, September 13, or when more details about the raise are released to the market.

Bastion Minerals is an exploration and development company focused on gold, silver and copper in the lower Atacama region in Chile.

Last month, the company entered into an agreement with Sociedad Minera del Norte (SMDN) to purchase the San Juan Gold Project.

The purchase price is US$1.5 million (around A$2.04 million), with a purchase option agreement signed within 45 days following due diligence.

Previous mining at the project stopped in 1954 with no modern exploration undertaken since then.

On the market, Bastion Minerals last traded 24 cents per share.

BMO by the numbers
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