- DevEx Resources (DEV) enters a trading halt as the company prepares to raise new funds
- Trading of DEV shares will be paused until at least Thursday, August 18, by which time the company would have released further details about the capital raise
- Last week the company intersected “standout” uranium intercepts at its Nabarlek project in the Northern Territory
- As a result, DevEx expanded its drill program at both the Nabarlek South and the North Buffalo prospects
- Shares in DEV last traded at 41 cents each on August 15
DevEx Resources (DEV) has entered a trading halt as the company prepares to raise new funds.
Trading of DEV shares will be paused until at least Thursday, August 18, by which time the company would have released further details about the capital raise.
It is not yet known how much it is looking to raise or where the funds will be directed.
However, just last week the company intersected “standout” uranium mineralisation at its Nabarlek project in the Northern Territory.
As a result, DevEx expanded its drill program at both the Nabarlek South and the North Buffalo prospects.
In its June quarterly report, the company had $7.87 million in available funding, which was estimated to sustain its operations for just under a year.
Shares in DEV last traded at 41 cents each on August 15.