- West Australian-based exploration company Lodestar Minerals (LSR) has entered a trading halt ahead of an upcoming capital raise
- The company’s securities are expected to remain in a trading halt until Thursday, January 14, at the latest
- The company has not detailed how much it plans to raise or what the funds will be used for just yet
- However, recently, the explorer kick-started drilling at its Camel Hills project in Meekatharra in a bid to find gold
- Prior to Tuesday’s trading halt, LSR shares were trading at 1.3 cents each
Lodestar Minerals (LSR) has entered a trading halt ahead of an upcoming capital raise.
LSR securities are expected to remain in a trading halt until Thursday, January 14, when a further announcement is expected regarding the capital raise.
The company has not detailed how much it plans to raise or what the funds will be used for just yet.
But more recently, the explorer kick-started drilling at its Camel Hills project in Meekatharra, WA.
The 3000 metre drilling program is expected to take two weeks and will test for gold at the Constellation prospect.
The prospect is defined by 9 parts per billion of gold in soil anomaly with a peak result of 133 parts per billion of gold.
Prior to Tuesday’s trading halt, LSR shares were trading at 1.3 cents each.