- Sabre Resources (SBR) has entered a trading halt as it gears up for a capital raise announcement
- No details on the capital raise have been released at this stage, but the trading halt will lift once the announcement has been made or by July 16
- The capital raise comes after the company recently recommenced field exploration at two of its prospects in Namibia
- However, survey work remains uncompleted at its Western Australian project, due to COVID-19 restrictions
- Shares in Sabre last traded for 0.3 cents each
Exploration company Sabre Resources is gearing up for a capital raise after entering a trading halt.
The company wrote to the ASX requesting a trading halt today, pending the release of a capital raise announcement.
No details on the capital raise have been released at this stage, but the trading halt is expected to lift by July 16.
Meanwhile, Sabre recently announced it had recommenced field exploration work at its Baltika and Lucas Post prospects in Namibia, following the easing of COVID-19 restrictions in the region.
Sampling of historic waste rock and tails at the two prospects confirmed high levels of vanadium, lead and zinc were present.
The exploration company is also hoping to recommence exploration at its Bonanza-Beacon Project in Western Australia.
Sabre hired an NSW-based geophysical contractor, who began surveying part of the site before COVID-19 restrictions were imposed.
The company is now trying to secure permits to re-enter WA and complete its work.
Before today’s trading halt, shares in Sabre were trading for 0.3 cents per share on July 13.