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Castle Minerals (ASX:CDT) - Non Executive Chairman, Michael Atkins
Non Executive Chairman, Michael Atkins
Source: Legend Mining
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  • Castle Minerals (CDT) begins the week in a trading halt while it plans the details of an upcoming capital raising
  • The company will remain in the halt until September 29 or when more details regrading the raise are released, whichever occurs first
  • On September 21, Castle announced it had achieved concentrate grades of up to 96.4 per cent total carbon at its Kambale Project in Ghana
  • This testwork was carried out to provide an early indication of Kambale’s ability to produce a commercial grade concentrate
  • Shares in Castle last traded at 1.3 cents on September 24

Castle Minerals (CDT) has begun the week in a trading halt while it plans the details of an upcoming capital raising.

The company will remain in the halt until September 29 or when more details regrading the raise are released, whichever occurs first.

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

On September 21, Castle announced it had achieved concentrate grades of up to 96.4 per cent total carbon at its Kambale Project in Ghana, West Africa.

The Kambale Project lies six kilometres west of Ghana’s Upper West capital, Wa, and is the country’s only known graphite deposit.

After undertaking testwork on near-surface, weathered graphite schists, Castle achieved recovery rates of 88 per cent with samples grading up to 17.16 per cent.

This testwork was carried out to provide an early indication of Kambale’s ability to produce a commercial grade concentrate.

Castle is now designing a drilling program to outline the full extent of the project to help identify areas of high-quality graphite.

Shares in Castle last traded at 1.3 cents on September 24. The company has a $9.52 million market cap.

CDT by the numbers
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