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- Cullen Resources (CUL) has placed its securities in a trading halt as it eyes some additional capital
- The materials stock hasn’t disclosed how much its planning to raise, but full details are expected to be released by Friday, April 9
- The exploration company owns two iron-ore royalties as well as a series of WA-based tenements prospective for gold and other base metals and minerals
- In terms of financials, Cullen revealed in its half-year report that it had ended December with just over $713,000 worth of cash in the bank
- The company also announced last month that FLEM survey and soil sampling results at Wongan Hills had identified a priority drill target
- Before today’s trading halt, shares in Cullen Resources traded at 2.4 cents
Cullen Resources (CUL) has placed its securities in a trading halt as it eyes some additional capital.
The mineral exploration company’s securities will remain in a trading halt until Friday, April 9, or until an announcement is made.
At this stage it’s not clear how much the materials stock is looking to raise, or what the funds will go towards.
Cullen already owns two iron-ore royalties as well as a series of WA-based tenements prospective for gold and other base metals and minerals.
Financially, the company revealed in its recent half-year report that it had ended December with just over $713,000 worth of cash in the bank.
Comparatively, CUL had $271,000 in cash on hand when it began the 2021 financial year.
In terms of activities, Cullen announced last month that a FLEM survey and soil sampling at Wongan Hills has identified a priority drill target.
Before today’s trading halt, shares in Cullen Resources traded at 2.4 cents per share on Tuesday, April 6.
