Join our daily newsletter At The Bell to receive exclusive market insights
- Bryah Resources (BYH) enters a trading halt, as the company prepares to raise new funds
- Trading of BYH shares will be stopped until Tuesday, or until the company releases an announcement about the money it wishes to raise
- Whilst it is not yet known where the funds will be directed, BYH identified new manganese mineralisation at the Redrum prospect within the Bryah basin project in WA
- However, the company has three other projects in WA which could also benefit from the funds
- Shares in the company last traded at 3.1 cents on August 4
Bryah Resources (BYH) has entered a trading halt, as the company prepares to raise new funds.
BYH shares won’t trade until Tuesday, August 9, or until the company releases an announcement about the money it wishes to raise.
Whilst it is not yet known where the funds will be directed, BYH identified new manganese mineralisation at the Redrum prospect within the Bryah basin project in WA.
Bryah said it would continue to explore the joint venture project with additional reverse circulation drilling and GAIP surveys planned.
However, the company has three other projects in WA which could also benefit from the funds. These projects are exploring for a range of mineralisation, including copper, gold, and nickel.
BYH previously flagged the capital raise in its June quarterly report, where its total funding available was $727,000, an amount estimated to last less than one quarter.
Shares in the company last traded at 3.1 cents on August 4.
