- Battery Minerals (BAT) has entered a trading halt as it prepares to raise fresh capital
- At the moment, it is not known how much it is aiming to raise and where the funds will go
- However, company shares will be paused until Friday, November 13, or when more information about the raise is released to the market
- Yesterday, Battery Minerals found numerous targets across these newly purchased tenements and plans to further explore the areas in the 2021 March quarter
- On the market, Battery Minerals last traded for 2.8 cents per share on November 10
Battery Minerals (BAT) has entered a trading halt as it prepares to raise fresh capital.
The company has not given any details about how much it is aiming to raise and where the funds will go.
Company shares will be paused until Friday, November 13, or when more information about the raise is released to the market.
Battery Minerals is a mining development and minerals exploration company and has two graphite projects Montepuez and Balama in Mozambique.
In March, the company purchased Gippsland Prospecting, which has the sole right to apply for a highly-prospective exploration licence immediately next door to Stavely Minerals’ (SVY) Thursday’s Gossan copper-gold project in Victoria.
Just last month, Battery Minerals completed the purchase by issuing over 439 million shares to the vendors, as well as a $500,000 cash consideration.
Yesterday, the company found numerous targets on these newly purchased tenements. It believes these are strong walk-up targets for follow-up soil sampling, mapping and drill testing.
Battery Minerals, subject to Government approvals, expects to undertake more active exploration and drilling at the tenements in the March 2021 quarter.
On the market, Battery Minerals last traded for 2.8 cents per share on November 10.