- Latrobe Magnesium (LMG) ends the week in a trading halt ahead of a capital raising
- The company will remain in the halt until October 19 or when more details regarding the raise are released, whichever occurs first
- In its annual report, Latrobe recorded revenue of more than $846,000 for the period ending June 30, 2021, up from nearly $709,000 in the prior corresponding period
- The company also recorded a loss of $2.35 million, slightly up from the $2.08 million for the period ending June 30, 2020
- Shares in Latrobe last traded at 2.8 cents on October 14
Latrobe Magnesium (LMG) has ended the week in a trading halt ahead of a capital raising.
The company will remain in the halt until October 19 or when more details regarding the raise are released, whichever occurs first.
Latrobe is yet to disclose how much it intends to raise or what it will use the funds for once received.
In its annual report, Latrobe recorded revenue of $846,569 for the period ending June 30, 2021, up from revenue of $708,781 in the prior corresponding period.
The company also recorded a loss of $2.35 million, slightly up from the $2.08 million for the period ending June 30, 2020.
As of June 30, Latrobe had cash and cash equivalents of $954,249, up from $38,529 in the prior corresponding period.
Shares in Latrobe last traded at 2.8 cents on October 14. The company has a $36.81 million market cap.