- Rex Minerals (RXM) has requested back-to-back trading halts be implemented by the ASX as it gears up to announce a capital raise
- The company’s shares will remain locked up until Friday, September 4, as Rex irons out the details of this latest capital raise
- It’s not known how much the company plans to raise, or what form the equity raise will take, with full details to be announced later this week
- Rex recently announced it had extended its drill program for Hog Ranch in Nevada, U.S.
- Stage one of the exploration program at the site recently wrapped up, with stage two now underway
- Shares in RXM last traded for 21 cents per share on August 28
Gold and copper explorer Rex Minerals (RXM) has requested back-to-back trading halts be implemented by the ASX as it gears up to announce a capital raise.
The two trading halts mean the company’s shares will remain locked up until Friday, September 4, allowing Rex enough time to iron out the details of the capital raise.
At this stage, it’s not known how much the company plans to raise, or what form the equity raise will take, with full details to be announced later this week.
In the meantime, Rex has been focused on its Hog Ranch landholding in Nevada, where it recently announced it had approved a second stage of the reverse circulation (RC) drilling at the Krista Project.
Hog Ranch is made up of several projects, including the Krista Project, the Bells Project, the Airport Deposit and the Cameco Deposit.
Stage one of the exploration drilling project at Hog Ranch has now wrapped up and samples have been sent to a lab in Reno, Nevada for testing.
Meanwhile, stage two reverse circulation (RC) drilling has commenced at the Krista Project, with further drilling planned at Cameco and Bells.
Shares in RXM last traded for 21 cents per share on August 28.