- Base metal explorer Castillo Copper (CCZ) has entered a trading halt as it plans for an upcoming capital raise
- It is currently unknown how much the company is aiming to raise or where the funds will be spent
- Castillo shares will be paused until Friday, June 4, or when more information about the raise is released to the market
- On the market, Castillo last traded at 5.1 cents on June 1
Castillo Copper (CCZ) has entered a trading halt as it plans for an upcoming capital raise.
So far there are no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, Castillo shares will be paused until Friday, June 4, or when more information about the raise is released to the market.
Castillo is a base metal explorer focused on copper, followed by nickel, zinc and cobalt.
Yesterday, the company finalised its latest drilling program at the Big One Deposit within the Mt Oxide Project in northwest Queensland.
The program included 26 holes drilled over 2828 metres and aimed to collect detailed assays, density and geotechnical measurements.
Castillo hopes this drilling program will extend mineralisation and build on prior drilling results.
A drilling crew is expected to arrive on site within one to two weeks.
On the market, Castillo last traded at 5.1 cents on June 1.