Join our daily newsletter At The Bell to receive exclusive market insights
- Blaze International (BLZ) has entered a trading halt while it plans a capital raise
- While it isn’t clear how much Blaze wants to raise or what it will use the money for, last month it announced some exploration plans for the current quarter
- Exploration work will be carried out at the Kirkalocka, Jimberlana and Binneridgie projects in WA
- A soil sampling program is already underway at the Jimberlana Project which has defined three ultramafic intrusions
- Blaze International will remain in a trading halt until Wednesday, May 12, at the latest
- Company shares last traded at 3.6 cents on Friday, May 7
Blaze International (BLZ) has entered a trading halt while it plans a capital raise.
While it isn’t clear how much Blaze wants to raise or where it will put the funding towards, it announced some exploration plans for the current quarter.
In its March quarterly report, the company inked its plans to conduct exploration work at the Kirkalocka, Jimberlana and Binneridgie projects in Western Australia.
Part of this work is a soil sampling program at Jimberlana which has already defined three ultramafic core intrusions with elevated nickel, copper and platinum group elements.
Blaze is also planning an induced polarisation survey to define conductivity targets for broad, low-grade disseminated mineralisation.
At the end of the March quarter, Blaze had $1.61 million in cash and expects to have 5.97 quarters left of available funding.
Blaze International will remain in a trading halt until Wednesday, May 12, unless details of the raise are announced earlier.
Company shares last traded at 3.6 cents on Friday, May 7.
