- Aldoro Resources (ARN) places its shares in a trading halt regarding an upcoming capital raising
- The company will remain in the halt until Monday, October 17, or when an announcement with more details is released, whichever occurs first
- Yesterday, Aldoro announced a maiden inferred JORC mineral resource estimate (MRE) for its Niobe rubidium-lithium project in WA
- The MRE reads 4.6 million tonnes at 0.17 per cent rubidium oxide and 0.07 per cent lithium oxide with a 0.05 per cent rubidium oxide cut-off grade
- Shares in Aldoro last traded at 22.5 cents on October 12
Aldoro Resources (ARN) has placed its shares in a trading halt regarding an upcoming capital raising.
The company will remain in the halt until Monday, October 17, or when an announcement with more details is released, whichever occurs first.
Aldoro is yet to disclose how much it intends to raise or what it will use the funds for once received.
Yesterday, Aldoro announced a maiden inferred JORC mineral resource estimate (MRE) for its Niobe rubidium-lithium project in Western Australia.
The MRE reads 4.6 million tonnes at 0.17 per cent rubidium oxide and 0.07 per cent lithium oxide with a 0.05 per cent rubidium oxide cut-off grade.
The resource was defined by Aldoro’s recent 115-hole reverse circulation drilling program and 40 historical holes.
Mineralisation remains open at shallow depths, allowing the potential to increase the resource size.
Phase three diamond drilling has been planned to grow the resource size and upgrade the classification.
Shares in Aldoro last traded at 22.5 cents on October 12. The company has a $22.4 million market cap.