- Precious and base metals explorer Adriatic Metals (ADT) has entered a trading halt ahead of a capital raise
- At this point in time, just how much the company is aiming to raise and where the money will be spent is unknown
- Company shares will remain paused until Thursday, October 29, or when more details about the capital raise are released
- Earlier this month, Adriatic reported solid results from a pre-feasibility study (PFS) at its Vares silver project
- Adriatic shares last traded for $2.03 on October 26
Adriatic Metals (ADT) has entered a trading halt ahead of a capital raise.
At this point in time, just how much the company is aiming to raise and where the money will be spent is unknown.
Company shares will remain paused until Thursday, October 29, or when more details about the capital raise are released.
Earlier this month, Adriatic reported solid results from a pre-feasibility study (PFS) at its Vares silver project.
The project is located in Bosnia and Herzegovina and is prospective for several metals, such as gold, silver, zinc and pyrite.
The study showed a probable ore reserve of 11.1 million tonnes over a 14-year mine life and highlighted a net present value of just over US$1 billion (around A$1.4 billion) for the project.
Vares is also expected to have an all-in sustaining costs (AISC) of US$120 per tonne (around A$168 per tonne) and revenue of US$296.3 per tonne (approximately A$415 per tonne)
Adriatic is pleased with the results and will begin work on a definitive feasibility study (DFS) for the project.
Adriatic shares last traded for $2.03 on October 26.