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- Jervois Mining (JRV) has started the week in a trading halt ahead of an upcoming capital raise
- At this stage, it is unknown how much the mining company is aiming to raise and where the funds will go
- Company shares will be paused until Wednesday, October 21, or when more information on the capital raise is released to the market
- Today, Jervois also announced it appointed Greg Young as Executive General Manager in Sales
- For more than 25 years, Greg was at Glencore, where he built its cobalt trading book to be the worlds’ largest
- He has also invested $750,000 in Jervois’s current equity raise and he elected to receive options instead of cash for his salary
- Jervois last traded for 32.5 cents per share on October 16
Jervois Mining (JRV) has started the week in a trading halt ahead of an upcoming capital raise.
At this stage, it is unknown how much the mining company is aiming to raise and where the funds will go.
Company shares will be paused until Wednesday, October 21, or when more information on the capital raise is released to the market.
Today, Jervois also announced it appointed Greg Young as Executive General Manager in Sales.
Greg is one of the world’s foremost traders of nickel and cobalt products with extensive knowledge of the commodities, materials flow, market indices and pricing.
For more than 25 years, Greg was at Glencore, where he built its cobalt trading book to be the worlds’ largest.
In his new role, he will lead sales and distribution for products generated by Jervois’ São Miguel Paulista refinery in São Paulo, Brazil.
Greg will invest $750,000, as well as company principals, in the equity raise, which is co-cornerstoned by Jervois insiders to $1.75 million. Additionally, he has also elected to receive options instead of a cash salary for his role.
Jervois last traded for 32.5 cents per share on October 16.
