- Resolution Minerals (RML) enters week in a trading halt ahead of an upcoming capital raise
- It has not been disclosed to the market how much the company is planning to raise or where the funds will be spent
- Resolution shares will be paused until Wednesday, May 18, or when further details about the raise are released, whichever comes first
- Last week, the company executed a farm-in joint venture (JV) agreement with Oz Minerals (OZL) to fast track copper exploration at its Benmara project in the NT
- Resolution Minerals last traded at 1.4 cents per share on May 13
Resolution Minerals (RML) has entered the week in a trading halt ahead of an upcoming capital raise.
It is not yet known how much the company is aiming to raise or where the funds will be spent.
Under the halt, Resolution shares will be paused until Wednesday, May 18, or when further details about the raise are released to the market.
Resolution Minerals is a mineral exploration company with a focus on the acquisition, exploration and development of precious and battery metals, such as gold, copper, cobalt and uranium.
Last week, the company executed a farm-in joint venture (JV) agreement with Oz Minerals (OZL) to fast track copper exploration at its Benmara project in the NT.
Under the agreement, Oz Minerals will be able to buy up to a 51 per cent interest in Benmara by spending $4 million on exploration over five years, which will formalise the JV.
Resolution will keep its 49 per cent interest by electing to participate, otherwise Oz Minerals can earn a 75 per cent interest by spending a minimum of $1 million over an additional five years to create a positive final investment decision to mine.
Resolution Minerals last traded at 1.4 cents per share on May 13.