- M8 Sustainable (M8S) enters a trading halt while it plans a “material” capital raising
- The waste management and resources company is focussed on construction work at its landfill facility in Gingin, Western Australia
- However, it isn’t clear where the funding will go or how much is being raised
- Nevertheless, the mark only must wait until Wednesday, June 23, at the latest for the details to be released
- M8S’ shares last traded at 2.9 cents on Friday, June 18
M8 Sustainable (M8S) has entered a trading halt while it plans what it described as a “material” capital raising.
M8 Sustainable is an ASX-listed company that provides waste management and resource recovery solutions.
At this stage, it isn’t clear how much M8S will raise or what it will use the money for, but the market will only have to wait until Wednesday, June 23 to find out more.
News flow has been relatively low for the company, with its most recent operational update being in early May.
The industrials stock announced recommencing construction work at its fully permitted landfill facility in the small town of Gingin, Western Australia.
This new landfill facility has a licensed capacity of 150,000 tonnes per annum.
The company had to wait for onsite work to be completed and for critical cell liners to be delivered which then required a 100-day testing period.
But construction work is now well underway and is expected to be completed by November this year.
M8S’ shares last traded at 2.9 cents on Friday, June 18.