- Metalsearch (MSE) has gone into a trading halt ahead of a capital raise
- Company shares will be put on hold until Tuesday, July 28, or when MSE releases more information about the capital raise
- It is unclear what the funds will be used for and how much Metalsearch wants to raise
- Earlier this month, Metalsearch made some board changes, with Chairman Keong Chang resigning
- Sylvia Tulloch is the new Chair, and Peter Zardo is the new Managing Director, four months after being appointed Chief Operating Officer
- Metalsearch last traded for 1.2 cents per share on July 23
Metalsearch (MSE) has gone into a trading halt ahead of a capital raise.
This means company shares will be put on hold until Tuesday, July 28, or when the company announces the raise to the market. It is unclear what the funds will be used for and how much Metalsearch wants to raise.
Earlier this month, Metalsearch made some board changes.
Keong Chang stepped down as Chairman and resigned as a director of the company. Now, Sylvia Tulloch has taken on the role of Chair.
Before her appointment, Sylvia was the founding Managing Director of Dyesol. During her leadership, Dyesol went from a market capitalisation of $10 million to over $200 million.
Now, Peter Zardo will take on the role of Managing Director, just four months after being appointed Chief Operating Officer.
Just 11 months after entering the Australian kaoline industry, Metalsearch has delivered the maiden resource for its Abercorn Project in Queensland.
The project contains a total resource of 39.06 million tonnes at 28.6 per cent aluminium oxide and 1.18 per cent potassium oxide, using a cut-off grade of 26 per cent. Around 60 per cent of the resource is inferred.
Metalsearch last traded for 1.2 cents per share on July 23.