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- Thomson Resources (TMZ) has entered a mid-week trading halt ahead of an upcoming capital raising
- The company will remain in the halt until October 22 or when more details regarding the raise are released, whichever occurs first
- On October 15, Thomson began calculating an updated JORC 2012 mineral resource estimate for its Silver Spur Mine in Queensland
- The update will be calculated by AMC, the company’s resource consultants, and marks the next step in delivery JORC 2012 mineral resource estimate
- Shares in Thomson last traded at 9.2 cents on October 19
Thomson Resources (TMZ) has entered a mid-week trading halt in regards to an upcoming capital raising.
The company will remain in the halt until October 22 or when more details regarding the raise are released, whichever occurs first.
Thomson is yet to disclose how much it intends to raise or what it will use the funds for once received.
On October 15, Thomson began calculating an updated JORC 2012 mineral resource estimate (MRE) for its Silver Spur Mine in Queensland.
The new MRE will include data from 11 holes with significant silver and zinc mineralisation identified by previous explorers.
The update will be calculated by AMC, Thomson’s resource consultants, and it marks the next step in the company’s objective to deliver JORC 2012 MRE’s for the New England Fold Belt Hub.
Additionally, Planetary Geophysics was engaged to resurvey the geophysics in the area around the Silver Spur Mine to confirm and refine geophysical anomalies prior to drilling.
Shares in Thomson last traded at 9.2 cents on October 19. The company has a $44.96 million market cap.
