- Australian Mines (AUZ) has entered a trading halt ahead of a capital raise announcement
- Recently, the battery material developer began producing cathode precursor materials for nickel-cobalt-manganese (NCM) style batteries, which are widely used by brands such as Audi, BMW, and Volkswagen
- This is set to meet customers’ needs, create value for shareholders and support negotiations with potential offtake and financing partners
- Australian Mines also recently became the first mineral resources company to be certified as a Carbon Neutral Organisation under the Australian Government’s Climate Active program
- The company is focused on sustainably developing the Sconi Cobalt-Nickel-Scandium Project into a globally significant and reliable source of technology metals to meet the growing electric vehicle and energy industries
- Company shares last traded for 2.2 cents on Friday, August 21
Australian Mines (AUZ) has entered a trading halt ahead of a capital raise announcement.
The company will remain in a trading halt until the earlier commencement of trading on Wednesday, August 26, unless the capital raise is announced earlier.
Last week, the advanced battery materials developer announced it became the first mineral resources company to be certified a Carbon Neutral Organisation under the Australian Government’s Climate Active program.
Meeting the Climate Active Carbon Neutral Standard means Australian Mines’ carbon neutral status is based on best practice, international standards and genuine emissions reductions.
The company is focused on sustainably developing the Sconi Cobalt-Nickel-Scandium Project in northern Queensland into a globally significant, ethical and reliable source of technology metals to meet the growing electric vehicle (EV) and energy industries.
To achieve this, Australian Mines is developing a carbon neutrality plan designed to reduce greenhouse gas emissions by putting in place some energy-saving initiatives, as well as offsetting any unavoidable emissions.
The company also recently began bench-scale production of cathode precursor materials for nickel-cobalt-manganese (NCM) style batteries, which are widely used by brands such as Audi, BMW, Jaguar, Renault, Nissan and Volkswagen.
The production of NCM materials is set to meet customers’ needs and create value for shareholders, while also supporting agreements with potential offtake and financing partners.
Company shares last traded for 2.2 cents on Friday, August 21.