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- Moho Resources (MOH) enters a trading halt pending an announcement regarding a capital raising and acquisition
- The company will remain in the halt until October 25 or when the announcement is released, whichever occurs first
- Additionally, Moho also announced today it has been awarded a $150,000 Exploration Incentive Scheme grant by the WA Government
- This grant allows the company to fund up to 50 per cent of drilling activities at the SIlver Swan North Project to test a large and poorly drilled area of potential ultramafics
- Shares in Moho last traded at 6.3 cents on October 20
Moho Resources (MOH) has entered a trading halt pending an announcement regarding a capital raising and acquisition.
The company will remain in a halt until October 25 or when the announcement is released, whichever occurs first.
Moho is yet to disclose how much it intends to raise or what it will be acquiring.
Additionally, the company also announced it has been awarded a $150,000 Exploration Incentive Scheme (EIS) grant by the WA Government.
This grant allows Moho to fund up to 50 per cent of reverse circulation (RC) and aircore drilling activities at the Silver Swan North Project, around 50 kilometres northeast of Kalgoorlie in Western Australia.
A total of 10 holes will be drilled to test a large and poorly drilled area of potential komatiitic ultramafics within the central-eastern part of the tenement.
The holes will be drilled to depths ranging between 200 metres to 400 metres with roughly 33 per cent to be cored.
Reverse circulation drilling is scheduled to begin in November.
Managing Director Shane Sadleir is thankful to have received the grant.
“Moho appreciates the WA Government’s financial assistance under the Exploration Incentive Scheme to advance our understanding of the geology by drill testing the nickel prospective stratigraphy at the Silver Swan North project,” Mr Sadleir said.
“We are looking forward to implementing this exciting phase of nickel exploration very shortly.”
Shares in Moho last traded at 6.3 cents on October 20. The company has a $6.50 million market cap.
