Source: Celamin
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Celamin Holdings (CNL) enters a trading halt as it plans an upcoming capital raise
  • So far, it is not known how much the company is aiming to raise or where the funds will be spent
  • Company shares will be paused until Friday, December 3, or when further information is released to the market
  • Celamin is involved in exploration and development of phosphate and zinc resource projects in North Africa
  • On the market, Celamin last traded at nine cents per share

Celamin Holdings (CNL) has entered into a trading halt as it plans an upcoming capital raise.

Currently, it is unknown how much money the company is aiming to raise or where the funds will be spent.

Under the halt, Celamin shares will be paused until Friday, December 3, or when further information is released to the market.

Celamin is involved in the exploration and development of phosphate and zinc resource projects in North Africa.

Recently, the company announced drilling results for the Chaketma Phosphate Project.

Exploration drilling, which included infill and extensional drilling, commenced in 2015 and finished in 2021.

This drilling was considered significant due to its potential to add to the previously announced resources.

Drilling results from the program includes 37.6 metres at 21.9 per cent phosphorus pentoxide from 56 metres and 33.6 metres at 22.2 per cent phosphorus pentoxide from 65 metres.

Commenting on these results is Managing Director Simon Eley.

“These new drilling results and recommencement of technical work are big steps forward at Chaketma, reinforcing what an exciting project this is with potential for a world-class fertiliser operation,” Mr Eley said in November.

On the market, Celamin last traded at nine cents per share.

CNL by the numbers
More From The Market Herald
Agrimin (ASX:AMN) - CEO, Mark Savich

" Agrimin (ASX:AMN) prepares for capital raise amid SOP offtake

Fertiliser development company Agrimin (AMN) has entered a trading halt while it plans a capital raise.

" GWR Group (ASX:GWR) to launch fresh cap raise

Junior miner GWR Group (ASX:GWR) has started the week in a trading halt as it prepares…

" Artemis Resources (ASX:ARV) enters trading halt for capital raise and dual listing

Artemis Resources (ASX:ARV) has entered a trading halt regarding a capital raise and proposed dual AIM…

" Austin Metals (ASX:AYT) halts trade, eyes fresh capital

Austin Metals (ASX:AYT) has placed its shares in a trading halt in regards to an upcoming…