- BCI Minerals (BCI) enters trading halt as it finalises details on an upcoming capital raise
- Currently, it is not known how much the company is aiming to raise or where the funds are going to be spent
- BCI shares will be paused until Friday, November 19, or when more details about the raise is released to the market
- BCI is developing its Mardie Salt & Potash Project, located on the West Pilbara coast, which is set to become the first new solar salt operation in WA in 25 years
- On the market, BCI last traded at 48 cents per share
BCI Minerals (BCI) has entered into a trading halt while it finalises details on an upcoming capital raise.
It is currently not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, BCI shares will be paused until Friday, November 19, or when more details about the raise is released to the market.
BCI Minerals is developing its Mardie Salt & Potash Project, located on the West Pilbara coast.
Last month, the company made its final investment decision for Mardie.
Mardie is set to become the first new solar salt operation in WA in 25 years, and the first to produce salt and sulphate of potash from seawater.
BCI is now aiming to finalise debt and equity funding arrangements.
Main construction on the project is targeted for early 2022, subject to funding and final approvals.
On the market, BCI last traded at 48 cents per share.