- Aruma Resources (AAJ) places its shares in a trading halt while it makes an announcement regarding an upcoming capital raising
- The company’s shares will remain in the halt until the earlier of February 16 or when the announcement is made
- On February 8, Aruma announced it began the first phase of drilling at the Mt Deans Lithium-Tantalite Project in the Goldfields region of Western Australia
- Approximately 3000 metres of reverse circulation drilling has been planned to confirm the presence of a thick pod of pegmatite and to intersect an interpreted pegmatite chamber
- Shares in Aruma last traded at 12 cents on February 11
Aruma Resources (AAJ) has placed its shares in a trading halt while it makes an announcement regarding an upcoming capital raising.
The company’s shares will remain in the halt until the earlier of February 16 or when the announcement is made.
Aruma is yet to disclose how much it intends to raise or what it will use the funds for once received.
On February 8, Aruma announced it began the first phase of drilling at the Mt Deans Lithium-Tantalite Project Project in the Goldfields region of Western Australia.
Approximately 3000 metres of reverse circulation drilling has been planned to confirm the presence of a thick pod of pegmatite and to intersect an interpreted pegmatite chamber.
Aruma views the Mt Dean Project as being highly prospective for lithium, tantalum and rare earth element mineralisation.
The company last entered a trading halt in September 2021 when it undertook a $1.56 million placement.
The funds were raised through the issue of 20 million shares to sophisticated and professional investors at 0.78 cents.
Aruma used the money to fund drilling at Mt Deans and undertake drilling and exploration at the Salmon Gums and Melrose Gold projects.
Shares in Aruma last traded at 12 cents on February 11. The company has a $15.11 million market cap.