- Larvotto Resources (LRV) enters a trading halt while it plans a capital raise
- The company has not yet announced how much it plans to raise nor how it will spend the money
- The Australian explorer expects to remain in the trading halt until Friday, October 14, by which time it plans to have released the details of the capital raise
- Shares in Larvotto last traded at 25 cents on October 11
Larvotto Resources (LRV) has entered a trading halt while it plans a capital raise.
The company has not yet announced how much it plans to raise nor how it will spend the money.
The Australian explorer expects to remain in the trading halt until Friday, October 14, by which time it plans to have released the details of the capital raise.
Earlier in the month, the company had defined a broad lithium geochemical anomaly at the Merivale prospect within its Eyre Project in Western Australia.
The anomaly was identified via Larvotto’s geochemical soil program that was undertaken to test the prospective rock units that extend from Liontown Resources’ (LTR) Buldania deposit.
As its next steps, Larvotto will undertake drilling to define the lateral and depth extents of the pegmatite units as well as test the grade of the mineralisation.
Shares in Larvotto last traded at 25 cents on October 11.