Join our daily newsletter At The Bell to receive exclusive market insights
- Matador Mining (MZZ) has been placed in a trading halt pending the release of a capital raising announcement
- The company will remain in the trading halt until July 8, or when an announcement is made regarding the raise — whichever occurs first
- Additionally, Matador has requested back-to-back trading halts to comply with the COVID-19 allowance
- Back-to-back halts provide extra time for companies looking to raise capital and combat the effects of COVID-19
- Further, the company will restart exploration at the Cape Ray Gold Project this month
- Matador shares last traded for 31.5 cents on July 1
Matador Mining (MZZ) has been placed in a trading halt pending the release of a capital raising announcement.
The company will remain in the trading halt until July 8, or when an announcement is made regarding the capital raise — whichever occurs first.
Additionally, Matador has requested a back-to-back trading halt to comply with the COVID-19 allowance.
Back-to-back halts provide extra time for companies looking to raise capital and combat the effects of COVID-19.
Matador last entered a trading halt in February regarding the announcement of an updated mineral resource estimate for its Cape Ray Gold Project and a capital raise.
The company’s Cape Ray Gold Project is located roughly 25 kilometres northeast of the town of Port aux Basques in Newfoundland, Canada.
It lies on one of the most prospective (but underexplored) gold regions in North America — known as the Cape Ray Shear — and Matador will restart exploration at the project this month.
The company will aim to find the next deposit at the project, extend the mine life, and enhance the project economics.
Matador shares last traded for 31.5 cents on July 1.
