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- Duke Exploration (DEX) places its shares in a trading halt ahead of an announcement regarding its plans for raising capital
- Further details regarding the raise to be made to market on or before Thursday June 10
- The call for funds comes just a day after the ASX-lister reported an update on exploration drills from its Bundarra Project in central Queensland
- Duke’s most recent quarterly cash flow report reveals the company had approximately $5.2 million in cash and equivalents
- Prior to the trading halt, Duke Exploration shares last traded at 40 cents
Duke Exploration (DEX) has placed its shares in a trading halt ahead of an announcement regarding its plans for raising capital.
The Australian base and precious metals explorer said company shares are set to remain in a trading halt until it makes a formal announcement regarding the raise.
Duke said it expects to be in a position to update the market on or before Thursday June 10, at which time the trading halt is set to be lifted.
The call for funds comes just a day after the ASX-lister reported intersecting visible copper within all exploration drills from its Bundarra Project in central Queensland.
Samples have been submitted for analysis with first assays expected in July, while follow-up exploration drilling of targets at Quorn and Absolon are said to be progressing.
Duke’s most recent quarterly cash flow report revealed the company had approximately $5.2 million in cash and equivalents, which was enough to see it through the next 2.5 quarters based on spending levels at the time.
Prior to the trading halt, Duke Exploration shares last traded at 40 cents.
