- TNT Mines (TIN) 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 June 30 or when more details regarding the raise are released, whichever occurs first
- A few days ago, TNT Mines revealed an increase to the JORC 2012 resource at its Eureka Project in Western Australia
- The update was completed by CUBE Consulting and now reads 112,000 ounces at 1.42 grams of gold per tonne
- Shares in TNT Mines last traded at 17 cents on June 25
TNT Mines (TIN) 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 June 30 or when more details regarding the raise are released, whichever occurs first.
TNT Mines is yet to disclose how much it intends to raise or what it will use the funds for once received.
On June 24, the company increased the JORC 2012 resource for its Eureka Project in Western Australia.
The resource increased from 43,100 ounces at 1.8 grams of gold per tonne (g/t) to 112,000 ounces at 1.42g/t gold.
The update was completed by CUBE Consulting and incorporated all drilling completed in the first quarter of 2021.
“We have seen a significant increase in the contained ounces in the resource model at Eureka,” CEO Matthew Boyes said at the time.
“This is an excellent result considering the limited time we have been working at the asset and highlights the quality of the Eureka orebody and the greater tenement package.”
Shares in TNT Mines last traded at 17 cents on June 25. The company has a $16.39 million market cap.