- Minerals explorer Alice Queen (AQX) has entered a trading halt this morning as it plans an upcoming capital raise
- So far, there are no details on how much the company is aiming to raise or where the funds will be spent
- Under the halt, Alice Queen shares will be paused until Monday, May 17, or when more information about the raise is released to the market
- On the market, company shares last traded at 1.7 cents per share on May 12
Alice Queen (AQX) has entered a trading halt this morning as it plans an upcoming capital raise.
Currently, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, Alice Queen shares will be paused until Monday, May 17, or when more information about the raise is released to the market, whichever one comes first.
Alice Queen is an Australian minerals exploration company with gold and copper projects in New South Wales and Torres Strait and Fiji.
Earlier this year, the company lost its joint venture partner for the Torres Strait project, Horn Island.
The former partner, St Barbara, advised Alice Queen that it will not be pursuing further exploration on Horn Island and as a result no more expenditure will be earmarked towards the project.
Alice Queen’s Managing Director Andrew Buxton said it was “disappointing” but that the company enjoyed working with St Barbara.
On the market, company shares last traded at 1.7 cents per share on May 12.