Conico (ASX:CNJ) - CEO, Thomas Abraham James
CEO, Thomas Abraham James
Source: Conico
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  • Conico (CNJ) has started the week in a trading halt as it plans an upcoming capital raise
  • Currently it is unknown how much the company is aiming to raise or where the funds will be spent
  • Under the halt, company shares will be paused Wednesday, September 15, or when more information about the raise is released to the market
  • On the market, Conico last traded at 6.4 cents per share

Conico (CNJ) has entered into a trading halt this morning as it plans an upcoming capital raise.

It is unknown how much the company is aiming to raise or where the funds will be spent.

The trading halt means Conico shares will be paused until Wednesday, September 15, or when more information is released to the market, whichever comes first.

Conico is an Australian based mineral exploration company with projects in Greenland and Australia.

Last month, the company intersected sulphides and magnetite in the first hole ever drilled at the Sortekap prospect within its Ryberg Project in Greenland.

The hole targeted a conductive anomaly and intersected zones of five to 10 per cent disseminated sulphides, with another hole being drilled 350 metres south.

Additionally, Conico also intersected copper sulphide mineralisation at the Miki prospect, which is also part of the Ryberg Project.

On the market, Conico last traded at 6.4 cents per share.

CNJ by the numbers
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