- Askari Metals (AS2) enters a trading halt as it plans an upcoming capital raise
- It has not been revealed how much the company is aiming to raise but it did give a hint of an acquisition in the lithium sector
- On Monday, the company said it was set to expand its lithium portfolio in WA’s highly prospective Pilbara region
- Askari lodged applications with the Department of Mines, Industry Regulation and Safety to acquire the Yarrie lithium project
- On the market, Askari last traded at 38.5 cents per share
Askari Metals (AS2) has entered a trading halt as it plans an upcoming capital raise.
There is no details on how much the company is aiming to raise, however, it did give a hint about an acquisition in the lithium sector.
The halt means company shares will be paused until Monday, January 24, or when further details about the raise are released to the market.
Askari Metals explores and develops high-grade gold and copper projects in New South Wales and Western Australia.
Earlier this week, the company said it was set to expand its lithium portfolio in WA’s highly prospective Pilbara region.
The company has lodged applications with the Department of Mines, Industry Regulation and Safety to acquire the Yarrie lithium project.
Yarrie is near Kalamazoo Resources’ (KZR) Marble Bar lithium project and covers an area of 1,711 square kilometres. The project is considered to be prospective for hard rock lithium-tin-tantalum mineralisation in pegmatites.
Askari said it is confident it has a high chance of exploration success and is looking forward to exploring the project as soon as it can.
On the market, Askari last traded at 38.5 cents per share, giving it a market cap of $16.5 million.