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- Matsa Resources (MAT) enters a trading halt as it prepares to undertake a capital raise
- Trading of MAT shares will be paused until Monday, August 29, or until the company releases further details
- Matsa has a portfolio of projects across Western Australia and Thailand targeting gold mineralisation
- More recently it has focussed its efforts towards the Lake Carey gold project in WA, which earlier this month hit 6.57 grams per tonne (g/t) gold in diamond drilling
- Shares in MAT last traded at 4.3 cents each on August 23
Matsa Resources (MAT) has entered a trading halt as it prepares to undertake a capital raise.
Trading of MAT shares will be paused until Monday, August 29, or until the company releases further details.
It is not yet known how much is looking to raise or where the funds will be spent.
Matsa has a portfolio of projects across Western Australia and Thailand targeting gold mineralisation.
More recently it has focussed its efforts towards the Lake Carey gold project in WA, which earlier this month hit 6.57 grams per tonne (g/t) gold in diamond drilling.
The company flagged it would undertake further drilling to infill and extend detected mineralisation.
It finished the June quarter well funded with $2.57 million in available funding. This was estimated to last 24 quarters, with the company stating it believed operating expenses would remain the same in the September quarter.
Shares in MAT last traded at 4.3 cents each on August 23.
