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- Dreadnought Resources (DRE) shares are set to close the week in a voluntary trading halt ahead of a potential capital raise
- Further details regarding the fundraising are likely to be disclosed to the market on or before Tuesday, September 14
- Dreadnought says it has been able to demonstrate “a record of securing funds when required”
- Prior to today’s trading halt, Dreadnought Resources shares last traded at 3.7 cents
Dreadnought Resources (DRE) shares are set to close the week in a voluntary trading halt ahead of a potential capital raise.
Shares in the Western Australian focussed explorer are likely to remain in the trading halt until Tuesday September 14, when further details regarding the raise are disclosed to the market.
Dreadnought has not explicitly stated how much it plans to raise or for what purpose.
In its statement to the ASX, the company said it had been able to demonstrate “a record of securing funds when required” and was “confident that it will be to continue to do so upon ongoing satisfactory exploration results”.
“The Company believes that it is able to continue its current operations and business objectives,” the statement read.
Dreadnought had approximately $2.6 million in cash and equivalents at June 30, 2021.
Prior to today’s trading halt, Dreadnought Resources shares last traded at 3.7 cents.
