- Lodestar Minerals (LSR) has placed its shares in a trading halt ahead of a capital raising
- The exploration company’s securities will remain in a halt until February 17 at which point the capital raise announcement should be released
- The materials stock raised $839,000 via a placement to investors and joint venture partners back in January
- Close to 60 million LSR shares, worth 1.4 cents each, were issued under the offer, as well as a one for two unlisted attaching option
- All of the money raised via the placement was flagged for Lodestar’s Imbin Cu-Au Project and working capital purposes
- Before today’s trading halt, shares in Lodestar Minerals were trading for 1 cent each on February 12
Lodestar Minerals (LSR) has placed its shares in a trading halt ahead of a capital raising.
The exploration company’s securities will remain in a halt until Wednesday, February 17, at which point the capital raise announcement should be released.
LSR hasn’t stated how much it’s planning to raise or what the funds will be used for, however, this is the second time the business has raised capital recently.
The materials stock raised $839,000 via a placement to investors and joint venture partners Vango Mining and GoldFellas back in January.
Under the placement, Lodestar issued close to 60 million shares at 1.4 cents each as well as a one-for-two unlisted attaching option.
The options all had a strike price of 3 cents each and an expiry date of December 31, 2022.
At the time, Lodestar said all of the funds raised from the offer would be used to explore its Imbin copper gold project in WA and for working capital purposes.
Before today’s trading halt came into effect, shares in Lodestar Minerals were trading for 1 cents each on Friday, February 12.