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- Gold explorer Marvel Gold (MVL) ends the week in a trading halt as it plans an upcoming capital raise
- Currently, it is not known how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Tuesday, August 10, or when more information about the raise is released to the market
- The company is currently in the final stages of its Chilalo Graphite Project spin out
- On the market, Marvel last traded at 5.4 cents per share
Marvel Gold (MVL) has ended the week in a trading halt ahead of a capital raise.
So far, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Tuesday, August 10, or when more information about the raise is released to the market.
Marvel Gold is a Mali- focussed gold explorer with exploration projects in South and West Mali.
Last month, the company announced it is at advanced stages with the spin-out of its Chilalo Graphite Project.
In early May, Marvel told its plans to spin-out its Chilalo Graphite Project into a new subsidiary named “Evolution Energy Minerals” with a proposed IPO and ASX-listing.
Marvel hopes to get the Tanzania Fair Competition Commission approval by mid-August.
On the market, Marvel last traded at 5.4 cents per share.
