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Critical Resources (ASX:CRR) - Chairman, Robert Martin
Chairman, Robert Martin
Source: Robert Martin / LinkedIn
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  • Critical Resources (CRR) enters a trading halt while it plans a ‘material’ acquisition and a capital raise
  • The materials stock hasn’t disclosed any details on what it will acquire and it isn’t clear whether the capital raise will fund the acquisition or not
  • This follows Critical selecting a contractor for a drilling program at the Halls Peak project in NSW, but it hasn’t announced whether the program has begun
  • The miner expects to come out of the trading halt by Monday, October 25, by which time the acquisition and capital raise details will be announced
  • CRR last traded at 3.1 cents on Wednesday, October 20

Critical Resources (CRR) has entered a trading halt while it plans a “material” acquisition and a capital raise.

The materials stock hasn’t disclosed any details on what it will acquire and it isn’t clear whether the capital raise will fund the acquisition or not.

In terms of recent newsflow, Critical Resources appointed DRC Drilling for a drilling program at the Halls Peak project in New South Wales.

The wholly owned project is located in the New England fold belt which is known to host sulphide mineralisation.

Halls Peak includes multiple historical mines and prospects including Gibsons, Sunnyside, Firefly, Faints, Khans Creek, Keys and Mickey Mouse.

The drilling program will include 14 holes drilled at Gibsons and a further three holes at the Sunnyside prospect. The program will give the company a better understanding of the areas at depth and will follow up on historical evaluations.

Critical Resources hasn’t provided a commencement date for the drilling program but said permitting was progressing well as of October 4.

The miner expects to come out of the trading halt by Monday, October 25, by which time the acquisition and capital raise details would have been announced.

CRR last traded at 3.1 cents on Wednesday, October 20.

CRR by the numbers
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