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- Vimy Resources (VMY) enters a trading halt ahead of an upcoming capital raise
- So far, it is not known how much the company is aiming to raise or where the funds will be spent
- The halt will see Vimy shares paused until or when further details about the raise are released to the market
- Vimy is an exploration and evaluation company focused on the exploration and evaluation of its Mulga Rock Project in WA
- Company shares last traded at 22.5 cents per share
Vimy Resources (VMY) has ended the week in a trading halt as it plans an upcoming capital raise.
It is currently not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Tuesday, March 8, or when further details about the raise are released to the market.
Vimy is an Australian-based exploration and evaluation company that is focused on the exploration and evaluation of its Mulga Rock Project in the Great Victoria Desert of Western Australia.
Earlier this year, Vimy appointed Steven Michael as Managing Director and CEO.
Mr Michael was appointed interim CEO in August 2021 and played a key role in commencing Mulga Rock.
He brings over 25 years of experience in the global resources sector and was previously Managing Director at FTI Consulting, where he specialised in business transformation for mining companies.
On the market, Vimy last traded at 22.5 cents per share.
