- Quantum Graphite (QGL) enters a trading halt ahead of a capital raise
- It is not known how much the company is aiming to raise or where it plans to spend the money
- Under the halt, QGL shares will be paused until Thursday, July 21, or when further information has been released to the market
- Earlier this month, the company was getting ready to commence testwork on its flake graphite, part of the thermal energy storage pilot partnership project with Sunlands
- QGL shares last traded at 41 cents each on July 18
Quantum Graphite (QGL) has entered into a trading halt ahead of a capital raise.
So far, there is no detail on how much the company is aiming to raise or where it plans to spend the money.
The halt means company shares will be paused until Thursday, July 21, or when further information has been released to the market.
Quantum is an exploration and mining company with graphite projects in South Australia, including the Mikkira graphite deposit on the Eyre Peninsula.
Earlier this month, the company said it is about to start testwork on its flake graphite, part of the thermal energy storage pilot partnership project with Sunlands.
The high temperature testing is an important step in the project to manufacture long-duration energy devices that could potentially play a role in stable and flexible energy to grids that are dependent on renewable power.
Initial results from the work are expected next month.
On the market, QGL shares last traded at 41 cents each on July 18.