- Silver City Minerals (SCI) has entered the Easter weekend in a trading halt as it prepares for an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise, but it is preparing to purchase a new gold project with the money
- Under the halt, company shares will be paused until Wednesday, April 7, or when more information about the raise is released to the market
- On the market, Silver City last traded at 1.8 cents per share on April 1
Silver City Minerals (SCI) has entered the Easter weekend in a trading halt as it plans an upcoming capital raise.
The company has given no details on how much it is aiming to raise, but it is preparing to purchase a new gold project with the money — though the name and location of the project remain unknown.
Under the halt, company shares will be paused until Wednesday, April 7, or when more information about the raise is released to the market.
Silver City is a base and precious metals explorer focussed on the well-endowed mining districts of Broken Hill and Cobar in the western part of New South Wales.
Last month, the company released its half year financial report. In the report Silver City ended the period with a revenue of $56,000.
Total equity for the period was $7.5 million, and, at the time, the company held $1.7 million in assets.
On the market, Silver City last traded at 1.8 cents per share on April 1.