- Aus Tin Mining (ANW) has requested a trading halt this morning regarding a material transaction and capital raise
- The company will remain in the halt until August 4 or when the announcement is released, whichever occurs first
- Aus Tin recently announced that its Heads of Agreement with Ten Mining had fallen though
- In mid-April, both companies signed an agreement which would see Aus Tin sell the Granville Tin Mine in Tasmania for around $1 million
- However, Ten Mining failed to pay on time and the agreement ultimately fell though
- Despite this, Aus Tin is still looking to pursue other options
- Shares in Aus Tin have been trading for 0.1 cents each since April 20
Aus Tin Mining (ANW) has requested a trading halt this morning regarding a material transaction and capital raise.
The company will remain in the halt until August 4 or when the announcement is released, whichever occurs first.
In April, Aus Tin signed a Heads of Agreement with Ten Mining to sell the Granville Tin Mine in Tasmania for around $1 million.
The company stated it was selling the mine to diversify its portfolio and focus on exploration within the Lachlan Fold Belt in NSW.
Additionally, this sale replaced the funding agreement that was signed in December 2019.
Unfortunately, on July 4, Aus Tin announced that the sale fell through after Ten Mining failed to pay on time.
However, the company stated it is still looking to pursue other options.
Aus Tin last entered a trading halt in April 2019 for a $1.2 million capital raise, stating it would primarily use the money for the Taronga Stage 1 Project and for general working capital.
Shares in Aus Tin have been trading for 0.1 cents each since April 20.