- Corazon Mining (CZN) has entered into a trading halt today ahead of an upcoming capital raise
- Currently, there is no information released to the market about how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Wednesday, February 24, or when more information is released to the market
- Last month, the company received approval to drill the South Pipe target at the Lynn Lake Project in Canada
- On the market, Corazon last traded for 5.7 cents per share on February 20
Corazon Mining (CZN) has entered into a trading halt today ahead of an upcoming capital raise.
There is currently no information released to the market about how much the company is aiming to raise or where the funds will be spent.
Company shares will be paused until Wednesday, February 24, or when more information is released to the market.
Corazon is an Australian-based explorer that is developing the Lynn Lake Project in Manitoba, Canada and the Mt Gilmore Project in NSW.
Last month, the company received approval to drill the South Pipe target at the Lynn Lake Project.
During one of its recently completed aerial MobileMT geophysical surveys at the project, the company found the South Pipe target.
Corazon said it will immediately begin the preparations for drilling at the South Pipe target.
At the end of the December quarter, Corazon had $693 million in cash and cash equivalents.
On the market, Corazon last traded for 5.7 cents per share on February 20.