- RareX (REE) enters the week in a trading halt as it plans the final details on an upcoming capital raise
- Currently, it is not known how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Thursday, March 3, or when further information on the raise is released to the market
- On the market, RareX last traded at 10 cents per share
RareX (REE) has entered into a trading halt as it plans an upcoming capital raise.
It is currently not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, REE shares will be paused until Thursday, March 3, or when further information on the raise is released to the market, whichever one comes first.
RareX is focused on rare earth deposits in Australia, including Cummins Rang Project, located in the East Kimberley region of Western Australia.
In January, the company reported further “outstanding high-grade results from Cummins Range”.
Overall, the grades peaked at 6.6 per cent total rare earth oxides, 1.2 per cent neodymium and praseodymium, 0.8 per cent niobium pentoxide and 138 grams per tonne silver.
These new results continue to highlight the potential of the primary zone at Cummins Range and reinforce the opportunity to increase the 18-million-tonne mineral resource.
On the market, RareX last traded at 10 cents per share.