- Conico (CNJ) enters into a trading halt ahead of a capital raise
- So far, there is no detail on how much the company is aiming to raise or where it plans to spend the money
- The halt means company shares will be paused until Wednesday, August 10, or when further information has been released to the market
- Last month, the company was in preparations to ramp up drilling activities in Greenland, with drilling to commence at two projects
- Shares in Conico were halted at 3.9 cents on August 8
Conico (CNJ) has entered into a trading halt ahead of a capital raise.
Currently, there are no details on how much the company is aiming to raise or where it plans to spend the money.
The halt means company shares will be paused until Wednesday, August 10, or when further information has been released to the market.
Conico is an Australian-based mineral exploration company with projects in Greenland and Western Australia.
Last month, the company was in preparations to ramp up drilling activities in Greenland, with drilling to commence at two projects in July.
The company have readied itself to start drilling at its Ryberg project, following the arrival of its field team on site.
To accelerate activities, Conico has acquired two diamond drill rigs and relevant equipment in near-new condition.
The new rigs will be mobilised to Mestersvig, with Ryberg to use the three drill rig already located on site.
Shares in Conico were halted at 3.9 cents on August 8.