- Investigator Resources (IVR) has requested a trading halt ahead of a capital raise
- Recently, the mineral explorer announced OZ Minerals chose to terminate its 70 per cent earn-in agreement with Investigator
- The agreement involved the ASX 200 company spending $10 million over five years on Investigator’s Maslins Project
- Unfortunately, the project has shown little promise, with very disappointing drilling results
- Despite this setback, Investigator is evaluating the potential of its Paris Silver Project in South Australia
- Company shares last traded for 4.1 cents on July 27
Investigator Resources (IVR) has requested a trading halt ahead of a capital raise announcement.
Investigator’s shares will remain in a trading halt until the earlier of commencement of trading on July 30.
The Australia-based mineral exploration company’s most recent announcement involved ASX 200-lister, OZ Minerals (OZL), choosing to terminate its earn-in agreement with Investigator.
The two companies entered the agreement in July 2019 and would see OZ earn up to 70 per cent in the Maslins Project by spending $10 million over five years.
Unfortunately, OZ recently chose to opt-out of the deal which didn’t come as too much of a surprise to Investigator Resources.
Maslins hasn’t yielded any notable or exciting results as of late which the company realises would be the predominant reason for OZ’s withdrawal.
Positively, Investigator is “fine-tuning” strategies to determine the potential of its Paris Silver Project in South Australia.
Company shares last traded for 4.1 cents each on July 27.