- Western Australian rare earth element and gold explorer, PVW Resources (PVW) halts trade on its shares ahead of a capital raising announcement
- It is not yet known how much will be raised or where the money will be spent
- Trading will be paused until Wednesday, April 6, or until more information on the capital raising is released to the market
- Last week, the company saw positive results from its metallurgical sighter test work at its Tanami heavy rare earth project
- Shares last traded at 48 cents each
PVW Resources (PVW) has halted trade on its shares ahead of a capital raising announcement.
It is not yet known how much will be raised or where the money will be spent.
Trading will be paused until Wednesday, April 6, or until more information on the capital raising is released to the market.
The company is a Western Australian exploration company seeking rare earth element and gold mineralisation across its mining jurisdictions in Tanami, Kalgoorlie, and Leonora.
Last week, the company saw positive results from its metallurgical sighter test work at its Tanami heavy rare earth project.
Ore sorting and magnetic separation testing successfully upgraded rare earth grade samples while rejecting significant mass, indicating a potential to save on downstream processing costs.
At the end of the last half year, the company reported cash of $2.4 million, decreasing its position from the start of the period by about $2.6 million.
Shares last traded at 48 cents each.