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- Aspiring tin producer Elementos (ELT) has entered a trading halt while it plans a capital raise
- Elementos is focused on developing its Cleveland and Oropesa tin projects to become a significant tin producer
- The ASX-lister is conducting drilling and exploration work across the projects while the London Metal Exchange tin price is experiencing a 10-year high
- Additionally, the company recently appointed Joe David as its CEO to support its growth strategy
- Elementos last traded at 1.2 cents on April 14
Elementos (ELT) has entered a trading halt while it plans a capital raise.
The company will remain in a trading halt until Monday, April 19, unless details of the raise are released earlier.
Earlier this month, Elementos provided an update on its strategy of becoming a tin producer by developing its wholly-owned projects and taking advantage of the London Metal Exchange tin price which is at a 10-year high.
While it isn’t certain where exactly the funds will go, the company is half-way through a 5000-metre drilling program at its Oropesa Project and is undertaking work programs at its Cleveland Tin Project in Tasmania.
After identifying tin mineralisation at Cleveland, Elementos is planning on conducting follow-up drilling later this year.
Furthermore, the company also recently appointed Joe David as its CEO. Mr David will use his extensive experience in mining and finance to support Elementos’ growth strategy.
Specifically, his focus will be on finalising the drilling program and the pre-feasibility study at Oropesa. Following this, a bankable feasibility study will be completed. Mr David will also lead the review of development options for the Cleveland Project.
Elementos last traded at 1.2 cents on April 14.
