Join our daily newsletter At The Bell to receive exclusive market insights
- Rafaella Resources (RFR) has begun the week in a trading halt ahead of an upcoming capital raise
- So far, it is unknown how much the company is aiming to raise and where the funds will be spent
- Under the halt, Rafaella shares will be paused until Wednesday, December 23, or when more information is released to the market
- Last week, the company identified significant copper, gold and silver targets at the McCleery Project in Canada
- Rafaella last traded for 6.6 cents on December 18
Rafaella Resources (RFR) has entered into a trading halt at the start of the week as it plans to raise capital.
Currently, there is no information on how much the company is aiming to raise and where the funds will be spent.
Company shares will be paused until Wednesday, December 23, or when more information is released to the market.
Rafaella is a global developer and explorer of world-class mineral deposits.
Last week, the company identified significant copper, gold and silver targets at the McCleery Project in Canada.
Throughout September, Rafaella’s geological consulting team, Aurora Geosciences, conducted an exploration program at the project. This work confirmed the presence of polymetallic, copper-silver-cobalt-gold.
Earlier this week, Rafaella released its pre-feasibility study (PFS) for its Santa Comba Tungsten and Tin Project in Spain. The PFS has given the project a proven and probable ore reserve of 4.59 million tonnes at a 0.148 per cent tungsten (WO3) grade.
The project is expected to cost US$7.1 million (around A$9.3 million), but the PFS has suggested that payback could be achieved within five months.
Rafaella last traded for 6.6 cents on December 18.
