- Minerals explorer Element 25 (E25) has kicked off the week with a trading halt as it flags an upcoming capital raise
- The trading halt is set to be lifted on or before March 24, when further information is released concerning the raise
- Element has advised it is looking to accelerate work in its lithium-ion manganese sulphate flowsheet and fund the expansion of manganese concentrate production volumes from its Butcherbird project in Western Australia
- According to Element, the project is progressing as planned
- Prior to the trading halt, Element 25 shares last changed hands at $2.68
Minerals explorer Element 25 (E25) has kicked off the week with a trading halt as it flags an upcoming capital raise.
In its market announcement, the company advised its shares would remain in a trading halt until a further disclosure was made regarding the raise on or before March 24.
Element 25 also went on to detail further plans for the raise, advising it was looking to accelerate work on its lithium-ion battery battery-grade manganese sulphate flowsheet and to fund the proposed expansion of manganese concentrate
production volumes from the Butcherbird Project.
The wholly-owned project is located in the Southern Pilbara Region of Western Australia and, based on recent company updates, is said to be progressing as planned.
Pre-commissioning activities began as scheduled with electrical systems and instrument loop checking underway.
In the same update, the company also hinted first ore could be processed from the site towards the second half of this month.
Prior to the trading halt, Element 25 shares last changed hands at $2.68.