- Southern Hemisphere Mining (SUH) begins the week in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until January 19 or when more details are released, whichever occurs first
- On December 1, SUH announced it began reverse circulation drilling at its Llahuin Copper-Gold-Molybdenum Project in Chile
- Drilling was designed to boost the current resource of 149 million tonnes at 0.41 per cent copper equivalent and target new porphyry deposits
- Shares in SUH last traded at four cents on January 10
Southern Hemisphere Mining (SUH) has begun the week in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until January 19 or when more details are released, whichever occurs first.
SUH is yet to disclose how much it intends to raise or what it will use the funds for once received.
On December 1, SUH announced it began reverse circulation (RC) drilling at its Llahuin Copper-Gold-Molybdenum Project in Chile.
Drilling was designed to boost the current resource of 149 million tonnes at 0.41 per cent copper equivalent and target new porphyry deposits.
Six exploration targets have been identified via a review of historical results combined with new drone magnetic data.
Results from the drilling will be made available to the public as they become available.
SUH last tapped investors for cash in August 2022 when it undertook a $540,000 one for two non-renounceable rights issue.
Once received, SUH said it would use the money to further advance its Chilean assets, particularly the Colina2 gold prospect.
Shares in SUH last traded at four cents on January 10. The company has a $9.77 million market cap.