- BlackEarth Minerals (BEM) has entered into a trading halt to plan an upcoming capital raise
- So far, it is unknown how much the company is aiming to raise or where the funds will be spent
- BlackEarth shares will be paused until Monday, April 12, or when more information about the raise has been released to the market
- On the market, BlackEarth last traded for 15.5 cents on April 7
BlackEarth Minerals (BEM) has entered into a trading halt ahead of an upcoming capital raise.
Currently, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, BlackEarth shares will be paused until Monday, April 12, or when more information about the raise has been released to the market.
BlackEarth is a vertically integrated graphite developer with advanced mining projects in Madagascar and base metal prospects in Western Australia.
Last week, the company saw outstanding results from its stage two large-scale pilot test program.
Initial results have confirmed grades of fixed carbon content of over 95 per cent, reaffirming the high quality of graphite product from the Maniry Project.
According to the company, these initial results have re-confirmed the product from the Maniry is high quality.
On the market, BlackEarth last traded for 15.5 cents on April 7.