- Sabre Resources (SBR) enters a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until April 14 or when details of the raising are announced, whichever occurs first
- Sabre told the market yesterday it identified a 1.4-kilometre conductor at its Sherlock Bay nickel-copper-cobalt project in Western Australia following modelling of previous electromagnetic survey data
- SBR shares last traded at 0.7 cents on April 11
Sabre Resources (SBR) shares have been placed in a trading halt pending a capital raising announcement by the company.
The company will remain in the halt until April 14 or when details of the raising are released, whichever occurs first.
Sabre is yet to disclose what it will use the funds for once received.
The company told the market yesterday it had identified a 1.4-kilometre conductor at its Sherlock Bay nickel-copper-cobalt project in Western Australia.
The conductor extends west and at depth below the Sherlock Bay nickel sulphide resource and remains open to the west and down-dip in the direction of increasing grade.
Sabre said the conductor was highlighted by modelling of previous electromagnetic survey data.
The company said it plans to undertake a diamond drilling program to test the conductor.
Sabre tapped investors for equity funding in November 2020. The $4.8 million placement saw a total of 417.3 million shares issued to participants at 1.15 cents each.
SBR shares last traded at 0.7 cents on April 11.