- Junior explorer Barra Resources (BAR) is planning to raise more capital, after placing its shares in a trading halt
- The fundraise comes after BAR announced a shakeup to its board, with Mike Edwards appointed Non-Executive Chairman
- Gary Berrell and Grant Mooney stepped down from their board roles, while Glenn Poole took over as Technical Director
- The company hasn’t announced how much it’s planning to raise, but the trading halt will expire by Monday, August 30
- Shares in Barra Resources last traded at 2.2 cents each
Junior explorer Barra Resources (BAR) is planning to raise more capital, after placing its shares in a trading halt.
The company hasn’t announced how much it’s planning to raise, but the trading halt will expire by Monday, August 30.
News of the fundraise comes after BAR announced a shakeup to its board and leadership team on August 19.
Mike Edwards has been appointed Barra’s new Non-Executive Chairman, while Glenn Poole took over as Technical Director and Chief Geologist.
Additionally, Gary Berrell and Grant Mooney both stepped down from their board roles as part of the renewal process.
Commenting on his new position, Mr Edwards said last week that he was excited to begin working at Barra.
“The industry has seen a number of high-grade brownfield exploration successes in the gold sector over the past two years, including Spectrum Metal (SPX) and Bellevue Gold (BGL),” Mr Edwards said.
“These projects show a number of similarities to Barra’s Burbanks Gold Project which had historic underground production of 324,479 ounces at an average grade of 22.7 grams of gold per tonne from predominantly 140 metres below surface, and has been largely devoid of any recent exploration.
“The Mt Thirsty nickel-cobalt project is also a sleeping giant of which I continue to see potential future value for the company.”
Before today’s trading halt, shares in BAR were trading at 2.2 cents per share on August 25.