- Australian gold explorer Krakatoa Resources (KTA) has entered a trading halt ahead of a capital raise announcement
- At this stage, details of the capital raise and what the funds will be used for are not yet known
- Last week, Krakatoa announced its landholding in WA’s Gascoyne region is set to expand to 1780 square kilometres following new exploration licence applications
- The applications are part of expanding the Mt Clere Project which is prospective for rare earth elements, heavy mineral sands and nickel, copper, platinum group elements
- Once all approvals have been given, the company will commence fieldwork
- Whether or not the upcoming capital raise will support exploration efforts is not yet known
- Company shares last traded for 9.4 cents on Friday, October 9
Australian gold explorer Krakatoa Resources (KTA) has entered a trading halt ahead of a capital raise announcement.
The company will remain in a trading halt until the earlier commencement of trading on Wednesday, October 14, unless the capital raise is announced earlier.
At this stage, details of the capital raise and what the funds will be used for are not yet known.
Three days ago, Krakatoa announced it had expanded its total landholding in the Gascoyne region of Western Australia to 1780 square kilometres. This followed new exploration licence applications submitted to expand its Mt Clere Project.
Mt Clere is prospective for rare earth elements, heavy mineral sands and intrusion-hosted nickel-copper-platinum group elements (PGEs).
The company stated that when the tenements have officially been granted and heritage agreements have been finalised, it would commence field work activities.
Whether or not the upcoming capital raise will support exploration efforts is not yet known.
Company shares last traded for 9.4 cents on Friday, October 9.