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- Sipa Resources (SRI) has entered a trading halt while it plans and completes a capital raise
- Sipa hasn’t indicated how much it will raise or what it will use the money for but a drilling program is set to begin at the Wolfe Basin in the upcoming quarter
- The company also plans to begin a gravity survey at its 50 per cent-owned Barbwire Terrace Project to define drill collar locations for future drilling
- Sipa expects to remain in the trading halt until Wednesday, September 22
- Company shares last traded at 6.2 cents on September 17
Sipa Resources (SRI) has entered a trading halt while it plans and completes a capital raise.
The company hasn’t indicated how much it will raise or how it will use the money.
In terms of newsflow, Sipa has been fairly quiet on the market in the past few weeks with its most recent announcement being an operations update on August 31.
Sipa Resources announced it would soon begin site preparations at the Wolfe Basin in Western Australia to allow testing of induced polarisation anomalies and other new targets. The company will begin diamond drilling in the December quarter.
Additionally, the company said it would soon begin a gravity survey at its 50 per cent-owned Barbwire Terrace Project in Western Australia. This work is aimed at defining drill hole locations ahead of a drilling program.
Sipa expects to remain in the trading halt until Wednesday, September 22.
Company shares last traded at 6.2 cents on September 17.
