- American Rare Earths (ARR) enters into a trading halt ahead of a capital raise
- There aren’t currently any details on how much the company is aiming to raise or how it plans to spend the money
- Under the halt, company shares will be paused until Thursday, August 18, or when further information has been released to the market
- Shares in ARR last traded at 35.5 cents on August 15
American Rare Earths (ARR) has entered into a trading halt ahead of a capital raise.
It is not known to the market on how much the company is aiming to raise or how it plans to spend the money.
Company shares will be paused until Thursday, August 18, or when further information has been released to the market.
American Rare Earths is an Australian explorer targeting the discovery and development of strategic technology mineral resources in the USA and Australia.
The acquisition of the La Paz Rare Earth Project in Arizona secures the company’s position as the only ASX-listed company with exposure to the US rare earths market.
In June, the company had accelerated its exploration plans to expand and upgrade the current JORC 2021 resource following “highly promising” assay results at the La Paz.
The company drilled nine holes, for 821 metres, and collected 677 samples, with the first round of assay results from the first 332 samples demonstrating rock type associated with higher rare earth grades.
Similarly, the company recently received “highly promising” results from its Hall Creek project in Wyoming.
Shares in ARR last traded at 35.5 cents on August 15.