- Lode Resources (LDR) begins the week in a trading halt while it prepares to release a capital raising announcement
- The company will remain in the halt until the earlier of Wednesday, August 17, or when the announcement is released
- On July 25, Lode Resources announced phase one drilling at its Webbs Consol Silver-Base Metal Project in NSW is continuing to intersect high-grade sulphides
- Drilling to date has identified five thick mineralised lodes rich in silver, lead and zinc with lesser copper and gold
- Shares in Lode Resources last traded at 16.5 cents on August 12
Lode Resources (LDR) has begun the week in a trading halt while it prepares to release a capital raising announcement.
The company will remain in the halt until the earlier of Wednesday, August 17, or when the announcement is released.
Lode Resources is yet to disclose how much it intends to raise and what it will be using the money for once received.
On July 25, Lode Resources announced phase one drilling at its Webbs Consol silver-base metal project in NSW is continuing to intersect high-grade sulphides.
Two mineralised lodes were extended at depth with mineralisation continuing to a depth of 150 metres.
To date, Lode Resources’ phase one drilling has identified five thick mineralised lodes that are rich in silver, lead and zinc with lesser copper and gold.
Together with the three-kilometre north-south strike and the latest results, this demonstrates the significant prospectivity of Webbs Consol.
Looking at its June quarter, Lode Resources burnt through $175,000 and invested $546,000.
As of June 30, the company had $2.18 million in total available funding, representing 3.33 quarters of use if spending levels remain the same.
Shares in Lode Resources last traded at 16.5 cents on August 12. The company has a $13.19 million market cap.