Total
0
Shares
Battery Minerals (ASX:BAT)-Executive Chairman, David Flanagan - The Market Herald
Executive Chairman, David Flanagan
Source: WASM
  • Battery Minerals (BAT) has entered a trading halt as it prepares to raise fresh capital
  • At the moment, it is not known how much it is aiming to raise and where the funds will go
  • However, company shares will be paused until Friday, November 13, or when more information about the raise is released to the market
  • Yesterday, Battery Minerals found numerous targets across these newly purchased tenements and plans to further explore the areas in the 2021 March quarter
  • On the market, Battery Minerals last traded for 2.8 cents per share on November 10

Battery Minerals (BAT) has entered a trading halt as it prepares to raise fresh capital.

The company has not given any details about how much it is aiming to raise and where the funds will go.

Company shares will be paused until Friday, November 13, or when more information about the raise is released to the market.

Battery Minerals is a mining development and minerals exploration company and has two graphite projects Montepuez and Balama in Mozambique.

In March, the company purchased Gippsland Prospecting, which has the sole right to apply for a highly-prospective exploration licence immediately next door to Stavely Minerals' (SVY) Thursday's Gossan copper-gold project in Victoria.

Just last month, Battery Minerals completed the purchase by issuing over 439 million shares to the vendors, as well as a $500,000 cash consideration.

Yesterday, the company found numerous targets on these newly purchased tenements. It believes these are strong walk-up targets for follow-up soil sampling, mapping and drill testing.

Battery Minerals, subject to Government approvals, expects to undertake more active exploration and drilling at the tenements in the March 2021 quarter.

On the market, Battery Minerals last traded for 2.8 cents per share on November 10.


Find out more about this capital raise


BAT by the numbers
More From The Market Herald
Bega Cheese and Fonterra kick off court trial over branding dispute

" Bega Cheese (ASX:BGA) prepares for acquisition with capital raise

Bega Cheese (BGA) has entered a double trading halt ahead of an acquisition and capital raise.
engage:BDR (ASX:EN1) - CEO, Ted Dhanik - The Market Herald

" engage:BDR (ASX:EN1) enters trading halt ahead of equity raise

engage:BDR (EN1) has placed its shares in a trading halt as it gets ready to execute a capital raising.
Technology Metals (ASX:TMT) - Managing Director, Ian Prentice - The Market Herald

" Technology Metals (ASX:TMT) enters back-to-back trading halts

Technology Metals (TMT) has entered back-to-back trading halts ahead of a proposed capital raise.
The Market Herald Video

" Strike Resources (ASX:SRK) enters two trading halts ahead of capital raise

Strike Resources (SRK) has entered back-to-back trading halts pending an announcement regarding a capital raise.