- Brightstar Resources (BTR) enters trading halt ahead of an upcoming capital raise
- It is not known how much the company is planning to raise or where the funds will be spent
- Under the halt, company shares will be paused until Wednesday, March 16, or when further details about the raise are released to the market
- Earlier this month, the company acquired a new exploration licence that sits immediately adjacent to its Cork Tree Well (CTW) project in Western Australia
- Brightstar last traded at 3 cents per share
Brightstar Resources (BTR) has entered a trading halt as it finalises details on a capital raise.
It has not been released to the market how much the company is planning to raise or where it will spend the money.
The halt means company shares will be paused until Wednesday, March 16, or when further details about the raise are released to the market.
Brightstar is a gold development company with projects in Laverton, Western Australia.
Earlier this month, the company acquired a new exploration licence that sits immediately adjacent to its Cork Tree Well (CTW) project.
Brightstar purchased the tenement from fellow ASX-lister Regis Resources (RRL) for $10,000 in cash.
The company said it was inspired to buy the new land due to its “outstanding” results from the reverse circulation program conducted at Cork Tree last year.
On the market, Brightstar last traded at 3 cents per share.