- Peel Mining (PEX) has requested back-to-back trading halts as it gears up to execute a capital raise
- Peel’s securities will remain in a trading halt until the announcement is made, or until Monday, July 27
- More recently, the company began drilling at its 100 per cent owned Siegals prospect in western NSW
- The reverse circulation drilling program aims to test significant chargeable Induced Polarisation anomalies
- The program will be partially funded by a grant by the NSW Government, worth up to $200,000
- Shares in Peel Mining last traded for 22.5 cents each on July 20
Minerals explorer Peel Mining (PEX) has requested back-to-back trading halts be implemented by the ASX, as it gears up to execute a capital raise.
In a statement to the securities exchange today, Peel asked for two consecutive halts, as it needed time to consider, plan and execute a capital raise.
No details have been released about the raise at this stage, however, the trading halt will remain in place until an announcement is made, or until Monday, July 27.
More recently, the minerals exploration company has focused on a drilling program at its 100 per cent owned Siegals Prospect in western NSW.
The reverse circulation drilling began last week and aims to test significant chargeable Induced Polarisation anomalies.
The nine drill holes have been positioned over areas which are believed to contain sulphide-associated gold-zinc-lead-copper-silver mineralisation.
The drilling program at Siegals is partially funded by the NSW Government, which awarded Peel a grant of up to $200,000 as part of their New Frontiers Cooperative Drilling program.
Before today’s trading halt, shares in Peel Mining last traded for 22.5 cents each on July 20.