- Inca Minerals (ICG) has entered a trading halt ahead of a capital raise
- At this stage, it is unclear how much the company intends to raise and what it will use the funding for
- Company shares will be paused until Wednesday, September 16, or until Inca releases more information to the market
- Last week, Inca received exploration approvals from the Northern Territory Government for its IOCG projects
- Before the company entered the trading halt, it was up 1.67 per cent and trading for 6.1 cents per share
Inca Minerals (ICG) has entered a trading halt ahead of a capital raise.
This means company shares will be paused from trade until Wednesday, September 16, or until Inca releases more information to the market.
At this stage, it is unclear how much the company intends to raise and what it will use the funding for.
Last week, Inca received exploration approvals from the Northern Territory Government for its East Tennant IOCG projects, Frewena Fable (North), Frewena East and Frewena Far East.
At this stage, the department has offered to withhold the formal grant until COVID-19 travel restrictions lift, unless the company opts to formalise the grant before that date.
The company said its airborne magnetic and radiometric geophysical survey, which is co-funded by the NT Government, is on schedule to commence in October and November this year. This survey will cover Frewena Fable and Frewena Far East.
Before the company entered the trading halt, it was up 1.67 per cent and trading for 6.1 cents per share at 10:04 am AEST.