Jumbuck project. Source: Tyranna Resources
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  • Tyranna Resources (TYX) has placed its shares in a trading halt pending a capital raising and project acquisition
  • The company will remain in the halt until Monday, May 16 or when further details are released, whichever occurs first
  • In its March quarterly report, Tyranna revealed it had burnt through $117,000 with the majority going towards administration and corporate costs
  • The company ended the period with more than $2 million in total available funding, representing 17 quarters of use if spending levels remain the same
  • Shares in Tyranna last traded at 0.6 cents on May 3

Tyranna Resources (TYX) has placed its shares in a trading halt pending a capital raising and project acquisition.

The company will remain in the halt until Monday, May 16 or when further details are released, whichever occurs first.

Tyranna is yet to disclose how much it intends to raise or what project it will be acquiring.

In its March quarterly report, Tyranna revealed it had burnt through $117,000 with the majority going towards administration and corporate costs.

The company ended the period with more than $2 million in total available funding, representing 17 quarters of use if spending levels remain the same.

The most recent news prior to this was Tyranna completing the sale of the Jumbuck Gold Project to Marmota for $3 million.

The $3 million consisted of a $2.5 million cash consideration and the issue of more than 9.54 fully-paid ordinary shares at a price of 5.24 cents.

Shares in Tyranna last traded at 0.6 cents on May 3.

TYX by the numbers
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