- Tanga Resources (TRL) has locked up its shares in back-to-back trading halts as it gets ready to execute a capital raise
- The company’s shares will remain frozen until Wednesday, September 30, unless the company announces the details earlier
- More recently, Tanga has been focused on its newly acquired gold projects in Côte d’Ivoire
- TRL acquired the projects via the purchase of Glomin Services, a subsidiary of Capital DI
- Shares in Tanga last traded for 3.7 cents each on September 23
Precious and base metals explorer Tanga Resources (TRL) has locked up its shares in back-to-back trading halts as it gets ready to execute a capital raise.
Tanga’s shares will remain frozen until Wednesday, September 30, unless the company announces the details of the capital raise earlier.
More recently, the explorer has been focused on its newly acquired gold projects in Côte d’Ivoire in West Africa.
Tanga has signed an agreement to purchase three exploration licences from Capital DI’s subsidiary, Glomin Services.
Glomin’s 80 per cent interest in the projects was acquired via three separate joint venture agreements, one with Predictive Discovery (PDI) and two with West African Venture Investments.
In order for the sale to go ahead, Tanga will need to pay a $150,000 fee to the companies involved.
In total, all three of the projects cover 3038 square kilometres which Tanga Resources considers highly prospective for gold mineralisation.
Before today’s trading halt, shares in TRL were trading for 3.7 cents each on September 23.