- Titanium Sands (TSL) has entered back-to-back trading halts this morning ahead of a capital raise
- At this point, investors are unsure how much TSL intends to raise or what it will use the funding for
- Company shares will be paused from trade until Tuesday, September 22, or until Titanium Sands releases more information about the raise
- Earlier this week, Titanium updated the market on its Sri Lankan heavy mineral sands project
- Now that COVID-19 restrictions have eased in Sri Lanka, exploration will recommence
- Titanium shares last traded for 5.6 cents per share on September 16
Titanium Sands (TSL) has entered back-to-back trading halts this morning ahead of a capital raise.
At this point, investors are unsure how much TSL intends to raise or what it will use the funding for. However, company shares will be paused from trade until Tuesday, September 22, or until Titanium Sands releases more information about the raise.
Earlier this week, the company updated the market on its Sri Lankan heavy mineral sands project.
Now that COVID-19 restrictions have eased in Sri Lanka, exploration will recommence. The country has also completed a government election, which TSL says has provided the country with strong and stable leadership.
The scoping study at the project has shown the potential for an economically robust long-life dredging project. More detailed scoping study results are expected to be released to the market once resource upgraded is finalised.
Further to the proposed high-grade zone exploration, Titanium will follow with exploration on previously identified zones. This program will include a reverse circulation aircore rig and results will be available in the first quarter of 2021.
Titanium continues to discuss offtake and strategic partnership opportunities with various partners.
Company shares last traded for 5.6 cents per share on September 16.