- Australian exploration company Apollo Minerals (AON) has entered a voluntary trading halt while it gears up for an approaching capital raise
- The trading halt is set to be lifted on or before April 9 when further details regarding the raise have been made to market
- While there’s been no explicit indication as to how much Apollo is seeking to raise or for what purpose, it comes as the explorer commences a maiden drill programme at the Kroussou zinc–lead project in Gabon
- According to Apollo, the project hosts numerous prospects, only four of which have been previously tested
- Prior to the trading halt, Apollo Minerals shares last changed hands at 8 cents
Australian exploration company Apollo Minerals (AON) has entered a voluntary trading halt while it gears up for an approaching capital raise.
Apollo requested its company shares remain in the halt until a formal announcement is made to the market regarding the raise, which is expected on or before April 9.
At this stage, there’s been no explicit indication as to how much Apollo is looking to raise and how it plans to spend the funds.
The company announced only yesterday that its maiden drill programme had commenced at the Kroussou zinc–lead project in Gabon, with the initial phase set to include 1000 metres of diamond drilling following extensive exploration work at the prospect.
According to Apollo’s Executive Director Neil Inwood, Kroussou hosts numerous untested targets across eighteen separate prospects over more than 80 kilometres of strike.
“To date only four of these prospects have been drill tested, with all four intersecting zinc-lead mineralisation at shallow depths,” he commented.
Prior to the trading halt, Apollo Minerals shares last changed hands at 8 cents.