Black Canyon (ASX:BCA) - Executive Director, Brendan Cummins
Executive Director, Brendan Cummins
Source: Black Canyon
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  • Black Canyon (BCA) enters a mid-week trading halt in regards to an upcoming capital raising
  • The halt until April 29 or when an announcement with more details is released, whichever occurs first
  • On April 13, Black Canyon reported a significant increase in the mineral resource estimate (MRE) at its Flanagan Bore manganese project in Western Australia
  • The MRE now stands at 104 million tonnes at 10.5 per cent manganese containing 11 million tonnes of manganese
  • Shares in Black Canyon last traded at 37 cents on April 26

Black Canyon (BCA) has entered a mid-week trading halt in regards to an upcoming capital raising.

The company will remain in the halt until April 29 or when an announcement with more details is released, whichever occurs first.

Black Canyon is yet to disclose how much it intends to raise or what it will use the funds for once received.

On April 13, Black Canyon reported a significant increase in the mineral resource estimate (MRE) at its Flanagan Bore manganese project in Western Australia.

There was a big jump in both tonnage and contained metal with the MRE now standing at 104 million tonnes at 10.5 per cent manganese containing 11 million tonnes of manganese.

Black Canyon said the new MRE represented an increase of 89 million tonnes of total tonnage and nine million tonnes of contained manganese on the previous MRE of 15 million tonnes at 11.3 per cent manganese.

The company said the updated MRE provides a robust foundation for use in scoping-level and potential future development studies.

Shares in Black Canyon last traded at 37 cents on April 26. The company has a $15.51 million market cap.

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