- Materials stock Auroch Minerals (AOU) has locked up its shares as it prepares to undertake a capital raise
- The base metals explorer, which is currently developing assets in Western and South Australia, entered back-to-back trading halts this morning
- At this stage, AOU shares will remain frozen until Tuesday, September 29, unless Auroch can make an announcement about the raise before that date
- Until then, shareholders won’t know how much the junior explorer is aiming to raise or what it’ll put the funding towards
- Just yesterday, Auroch announced it had kickstarted drilling at its Firefly and Sinclair North nickel prospects
- Auroch shares last traded for 7.6 cents each in a $14.33 million market capitalisation
Materials stock Auroch Minerals (AOU) has locked up its shares as it prepares to undertake a capital raise.
The base metals explorer, which is currently developing assets in Western and South Australia, entered back-to-back trading halts this morning.
At this stage, AOU shares will remain frozen until Tuesday, September 29, unless Auroch can make an announcement about the raise before that date.
Until then, shareholders won’t know how much the junior explorer is aiming to raise or what it’ll put the funding towards.
Just yesterday, Auroch announced it had kickstarted drilling at its Firefly and Sinclair North nickel prospects.
The tenements, which form part of AOU’s Leinster Nickel Project in WA, are now being explored as part of a 1000-metre reverse circulation (RC) drilling campaign.
Recently, Auroch also completed a maiden 1478-metre RC program at the Valdez prospect.
Assay results from that campaign are on their way, while the company has planned downhole electromagnetic (DHEM) surveys to follow up on potential massive nickel sulphide mineralisation. These appraisals are slated to begin next week.
On the back of the news, Auroch shares ended Tuesday’s session 1.33 per cent in the green. Company stock last traded for 7.6 cents each in a $14.33 million market capitalisation.