Join our daily newsletter At The Bell to receive exclusive market insights
- 3D Resources (DDD) enters a mid-week trading halt while it plans an upcoming capital raising
- The company will remain in the halt until February 4 or when an announcement regarding the raise is released, whichever occurs first
- In its December quarterly report, the company revealed it had burnt through $127,000 in the quarter, with it all going towards administration and corporate costs
- As of December 31, 3D Resources had $687,000 in total available funding, representing 2.6 quarters of use if spending levels remain the same
- Shares in 3D Resources last traded at 0.3 cents on January 21
3D Resources (DDD) has entered a mid-week trading halt while it plans an upcoming capital raising.
The company will remain in the halt until February 4 or when an announcement regarding the raise is released, whichever occurs first.
3D Resources is yet to disclose how much it intends to raise or what it will use the funds for once received.
In its December quarterly report, the company revealed it had burnt through $127,000 in the quarter, with it all going towards administration and corporate costs.
As of December 31, 3D Resources had $687,000 in total available funding, representing 2.6 quarters of use if spending levels remain the same.
3D Resources last tapped investors for cash in May 2021 when it undertook a $1.3 million share placement.
A total of 260 million fully-paid ordinary shares were issued to sophisticated and professional investors at 0.5 cents.
Shareholders also received one free attaching option for every two shares issued, exercisable at 0.42 cents with expiry on May 31, 2022.
3D Resources stated it would use the money to extend exploration and drilling activities at its Adelong Goldfields Projects in NSW.
Shares in 3D Resource last traded at 0.3 cents on January 21. The company has an $11.64 million market cap.
