- Celsius Resources (CLA) enters a trading halt ahead of an upcoming capital raise
- It is not known how much the company is aiming to raise or where it plans to spend the money
- The halt means CLA shares will be paused until Friday, March 4, or when further details about the raise is released to the market
- Last month, the company confirmed large scale of copper and gold at its Sagay project, located within the Philippines
- On the market, Celsius shares last traded at 2.4 cents per share
Celsius Resources (CLA) has entered a trading halt as it plans for an upcoming capital raise.
It is currently not known to the market how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Friday, March 4, or when it released further details on the capital raise is to the market.
Celsius is a copper-gold exploration and development company with projects in the Philippines.
Last month, the company confirmed a large scale of copper and gold at its Sagay project.
Results from one drill hole have confirmed large-scale copper-gold with true widths of up to 300 metres based on a 0.2 per cent copper.
The company will now focus drilling to further define the shallower extents of the higher-grade core within the lower grade envelope.
On the market, Celsius shares last traded at 2.4 cents per share.