- Centaurus (CTM) has entered back-to-back trading halts ahead of an upcoming capital raise
- The company has until Tuesday, July 28, to release an announcement about the raise before its shares are back to trading
- It is uncertain how much the company wants to raise and what the cash will be used for
- Last month, the company delivered a maiden mineral resource estimate for its Jaguar project in Brazil
- It reported an indicated and inferred resource of 48 million tonnes at 1.08 per cent nickel for 517,000 tonnes of nickel
- Company shares last traded for 47 cents on July 21
Centaurus (CTM) has entered back-to-back trading halts ahead of an upcoming capital raise.
This means the company has until Tuesday, July 28, to release an announcement about the raise before its shares are back to trading.
It is uncertain how much the company wants to raise and what the cash will be used for.
Last month, the company delivered a maiden mineral resource estimate for its Jaguar project in Brazil.
The indicated and inferred resource is 48 million tonnes at 1.08 per cent of nickel for 517,000 tonnes of nickel. Around 29 per cent of this result came from the successful in-fill drilling campaign, which has been completed over the past six months.
The company says it was fortunate enough to work through the COVID-19 pandemic with minimal impact on its drilling activity.
Centaurus said it will continue building on the maiden resource estimate, with drilling planned over the next few months.
Company shares last traded for 47 cents on July 21.