- Podium Minerals (POD) is getting ready to raise extra cash via a capital raise, with the exploration business placing its shares in a trading halt
- The company’s shares will remain halted from trade on the ASX until October 18, at which point the full details of the raise will be announced
- POD ended the 2021 financial year with $2.98 million worth of cash in the bank, after carrying out capital raises in July and February
- The company also recorded a net loss of $2.62 million after spending $1.14 million on operating costs in FY21 and $1.7 million on investment works
- Shares in POD last traded at 33 cents per share on October 13
Podium Minerals (POD) is getting ready to raise extra cash via a capital raise, with the exploration business placing its shares in a trading halt.
POD is focused on the discovery of platinum group metals, gold and base metals across its assets, including the flagship Park Reef project in WA’s mid-west.
The company’s shares will remain halted from trade on the ASX until Monday, October 18, at which point the full details of the raise should be announced to the market.
In terms of financials, POD ended the 2021 financial year with $2.98 million worth of cash in the bank.
Comparatively, the exploration business ended FY20 with just over $236,000 worth of cash stashed away.
POD raised just over $1 million via a share issue in July last year, before raising $2.5 million in additional cash through a share placement in February 2021.
The company finished the previous financial year with a net loss of $2.62 million after spending $1.14 million on operating costs and $1.7 million on investment works.
Before today’s trading halt, Podium Minerals shares were trading at 33 cents per share on Wednesday, October 13.