- New Century Resources (NCZ) will soon announce a material acquisitions, after placing its shares in a suspension
- The base metals producer had its securities suspended from quotation on Friday as it finalises a strategic transaction and equity raise
- NCZ expects to begin trading again by mid-October, with plans to also lodge new environmental bonding arrangements
- Additionally, the company will post its FY21 accounts once it begins trading on the ASX again later this month
- Shares in New Century Resources last traded at 15.5 cents per share on September 30
New Century Resources (NCZ) will soon announce a material acquisition, after placing its shares in a one-month suspension.
The base metals producer had its securities suspended from quotation on the ASX on Friday morning.
The halt will allow the business time to finalise a strategic transaction, including an acquisition, as well as an equity raise.
No details have been released to market, but NCZ stated it expected to begin trading again from October 11 onwards.
The company plans to lodge new environmental bonding arrangements and its FY21 accounts once it begins trading again.
NCZ has taken advantage of the ASX’s one-month extension rule so its full-year results can be announced alongside the acquisition.
The mining stock, which provides tailings management and economic rehabilitation services, appeared to spend much of FY21 focused on its flagship Century Zinc Mine.
Located in Northwest Queensland, NCZ acquired the former zinc-producing asset in 2018 and is closing in on making a final investment decision on restarting operations next year.
Before today’s suspension, shares in New Century Resources last traded at 15.5 cents per share on Thursday, September 30.