- Red Dirt Metals (RDT) enters a trading halt ahead of a capital raise
- It is currently unknown how much the raise will be or where the money will be spent
- Red Dirt shares will be paused until Tuesday, February 22, or when further details about the raise is released to the market
- Earlier this month, the company reported encouraging results from its first batch of lithium hits at its Mt Ida Project
- On the market, Red Dirt last traded at 54.5 cents per share
Red Dirt Metals (RDT) has entered a trading halt ahead of an upcoming capital raise.
So far, it is not known how much the company is planning to raise or where it will spend the money.
The halt means Red Dirt shares will be paused until Tuesday, February 22, or when further details about the raise is released to the market.
Red Dirt is focused on the development and evaluation of underexplored brownfields exploration assets in Western Australia.
Earlier this month, the company reported encouraging results from its first batch of lithium hits at its Mt Ida Project.
Initial assay results were received for 21 reverse circulation (RC) holes out of 122 holes totalling 21,310 metres drilled to date.
Results include intercepts of 29 metres grading 1.41 per cent lithium oxide from 199 metres, 23 metres at 1.61 per cent lithium oxide from 162 metres and 16 metres at 1.82 per cent lithium oxide from 92 metres.
On the market, Red Dirt last traded at 54.5 cents per share.