- Manhattan Corporation (MHC) is gearing up to undertake a capital raise
- The mining exploration company has written to the ASX requesting a trading halt
- The halt will be lifted pending an announcement which sets out the details of this new capital raise
- In the meantime, the company recently announced further drilling will take place within its Tibooburra gold project, following a new shallow high-grade gold discovery
- Manhattan shares last traded for 1.8 cents per share on July 1
Manhattan Corporation (MHC) will soon undertake a new capital raise.
The WA-based mining and exploration company requested a trading halt today, with the ASX granting the move.
The trading halt will be lifted once an announcement, setting out the details of the capital raise, is made public, or by July 6, 2020.
Manhattan recently announced it would undertake a further 5000 metres of reverse circulation (RC) drilling within its Tibooburra gold project in NSW this August.
The drilling will take place just outside the area known as New Bendigo, where a new shallow high-grade gold discovery was made last month.
Manhattan CEO, Kell Nielson, said there are potentially more high-grade gold discoveries within the prospect.
“MHC has a tenement holding covering 160 strike kilometres of gold-anomalous structures, which are similar in age and tectonic features to the Victorian
Goldfields, and similarly could hold potential for multi-million-ounce orogenic gold discoveries,” he said.
Manhattan’s shares remain in a trading halt, and were last traded for 1.8 cents each on July 1.