- Helix Resources (HLX) commences the week in a trading halt ahead of a capital raise
- Trading in the company’s shares will be paused until Wednesday, March 16, or when further details about the raise are released to the market
- Helix is a minerals exploration company focused on the Collerina copper and Cobar gold projects in central New South Wales
- HLX shares last traded at 1.5 cents
Helix Resources (HLX) has placed its shares in a trading halt ahead of a capital raising announcement.
Trading in the company’s shares will be paused until Wednesday, March 16 or when further details about the raise are released to the market.
Helix is a minerals exploration company focused on its Collerina copper and Cobar gold projects in central New South Wales.
Earlier this month, the company hit further oxide and sulphide copper intercepts at the CZ deposit within Collerina.
Drilling completed at CZ in November last year comprised 20 holes totalling 1,420 metres of reverse circulation (RC) and 2,005 metres of diamond core drilling.
The program was designed to scope out shallow oxide copper mineralisation, generate metallurgical samples and test inferred sections of the mineral resource model.
Assay results “confirmed” the new mineralised zone remains open to the south-east, according to Helix.
One RC intersection came in at two metres grading 3.97 per cent copper within a 27-metre interval averaging 0.68 per cent copper from 22 metres.
HLX shares last traded at 1.5 cents on March 11.