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- Advanced exploration company Coda Minerals (COD) has entered a trading halt as it prepares to carry out a capital raise
- COD’s securities will remain halted from trading until Monday, June 21, or until it releases the full details of the fundraise
- The material stock also announced on Thursday it was carrying out follow-up drilling at the Emmie Bluff Deeps prospect in South Australia
- Coda says the drilling will further evaluate the thick intersections of copper sulphide IOCG style mineralisation found at the deposit
- Company shares last traded at $1.39 per share
Advanced exploration company Coda Minerals (COD) has entered a trading halt as it prepares to carry out a capital raise.
COD’s securities will remain halted from trading until Monday, June 21, or until the business releases the full details of the fundraise.
Along with the capital raise, the material stock also announced on Thursday it was carrying out follow-up drilling at the Emmie Bluff Deeps prospect.
Emmie Bluff forms part of the company’s wider Elizabeth Creek Project in South Australia’s Olympic Copper Province.
Coda said it was carrying out additional drilling at the prospect to further evaluate the thick intersections of copper sulphide IOCG style mineralisation found.
“We have spent the last several days determining the most efficient and technically sound ways by which we can scale up our exploration efforts to further test the target identified by this incredible result,” CEO Chris Stevens said.
“We remain fully committed to our work program at the Emmie Bluff Zambian style copper-cobalt deposit, which remains an exceptional copper prospect in its own right.
“Over the next few months, we will continue to work to unlock the potential of
the IOCG opportunity whilst finalising the maiden JORC Mineral Resource Estimate for Emmie Bluff.”
Before today’s trading halt, shares in Coda Minerals were trading at $1.39 per share on June 16.
