Join our daily newsletter At The Bell to receive exclusive market insights
- Boss Resources (BOE) has entered back-to-back trading halts as it gears up for a capital raise
- Shares in the company will remain locked up until October 5, unless the company makes an announcement earlier
- Shareholders will have to wait until the trading halts are lifted to find out how much Boss plans to raise and what the funds will be put towards
- The company ended FY20 with $3.8 million in the bank, after burning through $2.6 million on operating expenses
- Boss Resources also racked up just over $5 million in losses over the 2020 financial year
- Shares in Boss Resources last traded for 7.2 cents each on September 28
Boss Resources (BOE) has entered back-to-back trading halts as it gears up for a capital raise.
Shares in the company will remain locked up until Monday, October 5, unless the company makes an announcement before that date.
At this stage, shareholders will have to wait until then to find out how much Boss plans to raise and what the funds will be put towards.
Looking at the company’s finances, the uranium producer ended the 2020 financial year with around $3.8 million worth of cash in the bank.
That’s well down on the $10.5 million Boss had in the bank at the end of the FY19, with the majority of the money spent on its Honeymoon Uranium Project in South Australia.
BOE also burnt through $2.6 million on operating expenses in the twelve months to 2020, with a lot of that going towards exploration work at Honeymoon.
The company ended FY20 with just over $5 million in losses after tax, deepening its previous FY19 loss of $1.2 million.
Before today’s trading halts, shares in Boss Resources were worth 7.2 cents each on Monday, September 28.
