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Red Mountain Mining (ASX:RMX) to acquire 100pc of Mt Maitland gold project
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  • Red Mountain Mining (RMX) has frozen its shares in a trading halt as it gets ready to execute a fundraise
  • The company's shares will remain locked up until Friday, September 25, at the latest
  • Shareholders will have to wait until then to find out how much Red Mountain plans to raise, unless it makes the announcement early
  • Earlier this month, the company released an update on it Mukabe-Kasari Copper Cobalt Project in the Congo
  • A report on the project found the site had extended copper mineralisation present, with potential cobalt mineralisation also detected
  • An exploration program has now been put together for Mukabe-Kasari to further test the mineralisation present
  • Shares in Red Mountain last traded for 0.8 cents each

Exploration company Red Mountain Mining (RMX) has frozen its shares in a trading halt as it gets ready to execute a fundraise.

Red Mountain's shares will remain locked up in a trading halt until Friday, September 25, at the latest.

Shareholders will have to wait until that date to find out how much Red Mountain plans to raise, unless it makes the capital raise announcement early.

More recently, the company has been focused on its Mukabe-Kasari Copper Cobalt project in the Democratic Republic of Congo.

Earlier this month, Red Mountain announced it has received a new report from geological consultants, who found extended copper mineralisation present at the site, along with potential cobalt mineralisation.

An exploration program has now been put together for Mukabe-Kasari to further test the mineralisation.

The proposed work includes diamond core drilling, geophysical surveys and detailed field mapping.

Shares in Red Mountain Mining last traded for 0.8 cents each on Tuesday, September 22.

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