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- Cauldron Energy (CXU) has ended the week with a trading halt ahead of a capital raise
- It is not yet known how much the company plans to raise and what the funds will be used for
- Cauldron Energy will remain in a trading halt until Tuesday, October 27, or when further information is released to the market
- Cauldron Energy is a mineral exploration and development company, with its main focus on gold assets in Victoria.
- Recently, the company progressed in finding a prospects of high value with significant potential to expand its existing Mineral Resource at the Blackwood Goldfield project
- Cauldron last traded for 3.9 cents per share on October 22
Cauldron Energy (CXU) has ended the week with a trading halt ahead of a capital raise.
Cauldron Energy is a mineral exploration and development company, with its main focus on gold assets in Victoria.
The company has not yet disclosed how much it plans to raise or what the funds will be used for. Company shares will be in a halt until Tuesday (October 27) or when further information about the raise is announced to the market.
Recently, the company further progressed in finding a prospects of high value with significant potential to expand the existing Mineral Resource at its Blackwood Goldfield project.
Data has highlighted the Rogers Big Hill as priority for targeted testing.
“This prospect provides Cauldron with the opportunity to help achieve its twin goals of expanding the Mineral Resource and finding the fastest method to commence underground mine production to generate cash flow,” the company announced in September.
Blackwood has been inactive since the late 1990s and contains around 250 underground workings, that was mined during the Victorian gold rush of the 1850s.
Cauldron last traded for 3.9 cents per share on October 22.
