- Exploration company Marquee Resources (MQR) has flagged plans to raise more funds via a capital raise
- Exactly what the money will be used for is yet to be revealed, however, shareholders will find out more information on February 5
- On that date the trading halt MQR has placed on its securities will expire, and the company will announce the full details of the cap raise
- More recently, Marquee revealed it ended the December quarter with $1.53 million worth of cash in the bank
- During the period it also spent $267,000 on operating expenses and $45,000 on exploration and evaluation costs
- At that rate of spend, MRQ had enough cash in the bank to keep going for an additional year
- Shares in Marquee Resources last traded for 5.4 cents each on February 2
Exploration company Marquee Resources (MQR) has flagged plans to raise more funds via a capital raise.
The business has placed its securities in a trading halt until Friday, February 5, at which point more details about the raise will be revealed.
It’s still unclear at this stage what the fundraise will be used for, however, MQR did recently release a financial update.
In its quarterly cashflow report the company revealed it ended the December quarter with $1.53 million in the bank.
It also spent $267,000 on operating expenses and $45,000 on exploration and evaluation costs during the period.
At that rate of spend, Marquee had enough cash in the bank to keep going for an additional 4.9 quarters.
Before today’s trading halt came into effect, shares in Marquee Resources last traded for 5.4 cents each on Tuesday, February 2.