- Caprice Resources (CRS) enters a trading halt ahead of a capital raise announcement
- In its December quarter report, the gold and base metals explorer outlined some exploration plans across its WA-based projects over the next few months
- The company ended the quarter with $1.35 million in cash
- While Caprice hasn’t disclosed what the new funding will be used for, it may go towards supporting drilling and other exploration activities mapped out for this year
- Company shares last traded at 18 cents on Tuesday, February 1
Caprice Resources (CRS) has entered a trading halt while it plans a capital raising.
The company holds 100 or 80 per cent interests in multiple projects in Western Australia as well as a 100 per cent interest in the Wild Horse Hill gold project in the Northern Territory.
Caprice recently put out its December quarter report recapping on exploration and related activities at its projects in WA across the three-month period.
It also outlined plans for further drilling over the next few months including an aircore (AC) program at Lake Austin as part of the The Island gold project, a follow-up reverse circulation program at The Island and a first-pass AC program at the Cuddingwarra and Fleece Pool tenements.
The company ended the December quarter with $1.35 million in cash, equivalent prior to the capital raising of an estimated 2.9 quarters of available funding.
Details of the capital raising are expected to be announced once Caprice shares come out of the trading halt on Friday, February 4.
CRS shares last traded at 18 cents on Tuesday, February 1.