- Raiden Resources (RDN) has ended the week in two trading halts ahead of a capital raise
- It is not known how much the company is raising and what for
- The double trading halt means company shares will be paused until October 15 or when more details are released to the market
- Last week, the company said it commenced planning field activities after COVID-19 impacted exploration
- Raiden last traded for 2.1 cents per share on October 8
Raiden Resources (RDN) has ended the week in two trading halts ahead of a capital raise.
At this stage, it is unknown how much the company is aiming to raise and what the money will be used for.
Company shares will be paused until Thursday, October 15, or when Raiden released more details about the capital raise.
Last week, the company said it had started planning field activities after COVID-19 impacted its projects.
However, while Raiden wasn’t undertaking field activities, it was able to focus on its corporate and administrative matters.
Work is currently underway to expedite approvals for work programs to advance gold targets at the Vuzel gold project, with drilling expected to commence during the second half of the year.
This is also the company’s second capital raise in just a couple of months — in early September, the company raised $1 million to advance its projects.
Raiden last traded for 2.1 cents per share on October 8.