- DevEx Resources (DEV) is set to announce a capital raise after requesting its shares be placed in a trading halt
- Details of DevEx’s capital raise announcement will soon be released, and when this occurs, the trading halt will be lifted
- The company is engaged in several exploration programs across Australia, including in the Lachlan Fold Belt in NSW and across the Julimar Complex in WA
- DevEx also released an investor presentation today, setting out the future goals for each of its projects
- Shares in the company were last selling for 11.5 cents each on July 3
Exploration company DevEx Resources (DEV) is gearing up to announce a capital raise after entering a trading halt.
DevEx requested the ASX place their securities in a halt today, with the trading halt to be lifted pending the capital raise announcement.
Details of the capital raise, and what the funds will be used for, is yet to be set out by the company.
However, the exploration company did release an investor presentation today, outlining its work to date.
Among the highlights were announcements about planned drilling at its Basin Creek and Junee projects, with works to begin in the next several months.
The Junee project is located in the Lachlan Fold Belt in NSW, and contains porphyry copper-gold targets, with reverse circulation (RC) and diamond drilling of six holes expected to begin in the third quarter of 2020.
Basin Creek, on the other hand, is located in the same region, and is home to a four-kilometre surface gold system, with both RC and diamond drilling planned for the third quarter as well.
The investor presentation also highlighted the commencement of exploration at the Julimar Complex in WA, where DevEx owns strategic ground believed to host nickel-copper-platinum group element mineralisation.
Shares in Devex were last trading at 11.5 cents each on July 3.