Join our daily newsletter At The Bell to receive exclusive market insights
- Minerals exploration company PolarX (PXX) enters a trading halt while it finalises plans for a capital raise
- So far, there is no information on how much the company is planning to raise or where it will spend the money
- Company shares will be paused until Wednesday, December 15, or when further details about the raise are released to the market
- Recently, the company completed four major exploration programs in the last four months, with assays pending from each
- On the market, PolarX last traded at 3.7 cents per share
PolarX (PXX) has entered the week in a trading halt as it plans an upcoming capital raise.
It is currently not known to the market how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Wednesday, December 15, or when further details about the raise are released to the market.
PolarX is a mineral explorer and developer with high-grade copper, gold and silver projects in the US.
Recently, the company completed four major exploration programs in the last four months, with assays pending from each.
The programs were completed at its Caribou Dome copper project in Alaska and its Humboldt-Range gold-silver project in Nevada.
Results from the program are still pending and all have confirmed mineralisation. Once received, the assays will assist with upcoming drilling programs at the projects in 2022.
On the market, PolarX last traded at 3.7 cents per share.
