Total
0
Shares
GTI Resources (ASX:GTI) - Executive Director, Bruce Lane
Executive Director, Bruce Lane
Source: The Market Herald
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Uranium and vanadium explorer GTI Resources (GTR) has entered back-to-back trading halts ahead of an upcoming capital raise and potential acquisition
  • The company will enter two trading halts, set to last for two days each, which will give GTI time to iron out and execute the final details of its capital raise plan
  • This means the company will commence trading no later than July 7
  • Just last week, GTI completed its maiden drill program at the Jeffery Project in Utah
  • Results from this are expected to be reported shortly
  • GTI went into a trading halt this morning and last traded for 3.4 cents each

Uranium and vanadium explorer GTI Resources (GTR) has entered back-to-back trading halts ahead of an upcoming capital raise and potential acquisition.

The company will enter two trading halts, set to last for two days each, which will give GTI time to iron out and execute the final details of its capital raise plan.

This means the company will commence trading no later than July 7.

June has been a busy month for the company, with progress made at both the Jeffery Project and Rats Nest in the Henry Mountains region in Utah.

On June 15, GTI received sample results, which confirmed the prospectivity of the Rats Nest project. Sample results showed the assay values ranging up to 0.87 per cent triuranium octoxide and 1.07 per cent vanadium pentoxide.

These results encouraged the company to extend its exploration at the Jeffery Project.

Last week, the company completed its maiden drill program at the Jeffery Project.

The program targeted 12 drill holes for uranium and vanadium mineralisation. Assay data from the drill holes are expected to be reported shortly.

Additionally, a drill core is being logged, cut and sampled for analysis, with results expected to be announced by mid-August.

GTI went into a trading halt this morning and last traded for 3.4 cents each.

GTR by the numbers
More From The Market Herald
Centrex Metals (ASX:CXM) - Managing Director, Robert Mencel

" Centrex Metals (ASX:CXM) halts trade following fertiliser agreement

Centrex Metals (CXM) has entered a trading halt pending an upcoming capital raising.
Sparc Technologies (ASX:SPN) - Managing Director, Mike Bartels

" Sparc Technologies (ASX:SPN) halts trade, plans capital raise

Sparc Technologies (SPN) has entered a trading halt while it considers, plans and executes a material capital raising.

" Chase Mining (ASX:CML) begins week in trading halt

Chase Mining (CML) has begun the week in a trading halt pending an announcement regarding a capital raising and acquisition opportunities.