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- Strickland Metals (STK) has entered a trading halt for the purpose of an upcoming capital raising
- The company will remain in the halt until the earlier of April 8 or when an announcement with more details is released
- On April 1, Strickland announced the appointment of Anthony McClure as Non-Executive Chairman and David Morgan as Non-Executive Director
- When combined, these individuals have more than 60 years of experience in the mining and resources sectors, having worked with the likes of Rio Tinto (RIO), Silver Mines (SVL) and WMC Resources
- Additionally, Andy Viner and Gary Powell stepped down, however, the former will remain as a consultant for a six month period
- Shares in Strickland last traded at 2.3 cents on April 1
Strickland Metals (STK) has entered a trading halt for the purpose of an upcoming capital raising.
The company will remain in the halt until the earlier of April 8 or when an announcement with more details is released.
Strickland is yet to disclose how much it intends to raise or what it will do with the funds once they have been received.
On April 1, Strickland announced the appointment of Anthony McClure as Non-Executive Chairman and David Morgan as Non-Executive Director.
Anthony has over 30 years’ technical, financial and management experience in the resources sectors, having worked with the likes of Bolnisi Gold, Nickel Mines and Silver Mines (SVL).
David also has more than 30 years’ experience across the mining sector spanning across Australia and Africa.
He has held multiple senior executive roles, having worked at Rio Tinto (RIO), Macmahon and WMC Resources.
Additionally, Andy Viner and Gary Powell stepped down, however, the former will remain as a consultant for a six-month period.
Taking a look at its financials, Strickland reported a loss after income tax of $1.2 million for the period ending December 31, 2020. This is markedly lower than the loss of $305,562 in the prior corresponding period.
Strickland ended the half with nearly $1.1 million in cash and cash deposits, up from $529,167 for the period ending June 30.
Shares in Strickland last traded at 2.3 cents on April 1. The company has a $9.68 million market cap.
