- Shares in Sipa Resources (SRI) have been placed in back-to-back trading halts ahead of a capital raise
- At this stage, it is unclear how much the company aims to raise and what the funds will be used for
- Company shares will be paused from trade until Friday, September 18, or until Sipa releases more information to the market
- Last week, Sipa updated the market on its exploration activities in Western Australia
- At Wolfe Basin, the company will begin drilling in the next few weeks to target base metal gossan targets
- Meanwhile, over at the Warralong Project, Sipa will begin an aeromagnetic survey
- Additionally, Sipa entered a joint venture agreement with Buru Energy (BRU) for the Barbwire Terrance Project
- Sipa last traded for nine cents per share on September 11
Shares in Sipa Resources (SRI) have been placed in back-to-back trading halts ahead of a capital raise.
At this stage, it is unclear how much the company aims to raise and what the funds will be used for.
Company shares will be paused from trade until Friday, September 18, or until Sipa releases more information to the market.
Last week, Sipa updated the ASX on its exploration activities in Western Australia.
At the Wolfe Basin Base Metals Project, the company completed a heritage survey and will begin drilling within the next few weeks to target base metal gossan targets.
Meanwhile, at the Warralong Project, Sipa completed a stream sediment survey and will soon begin an aeromagnetic survey.
Additionally, the company also entered a joint venture with Buru Energy (BRU) in relation to the Barbwire Terrace Project in WA.
Under this agreement, Buru will fund the first $250,000 in on-ground exploration expenditure to earn a 50 per cent stake in the project.
Sipa last traded for nine cents per share on September 11.