- TNT Mines (TIN) has entered two consecutive trading halts as it gets ready to announce a capital raising
- The exploration company’s shares will remain in a trading halt until Friday, October 23, at the latest
- Shareholders will have to wait until then to find out how much TNT plans to raise and what the funds will be used for
- TNT ended FY20 with a $1.57 million loss after tax and $428,000 in operating cash outflows
- It also had around $1.79 million worth of cash in the bank, which is slightly down on the $2.58 million it had on hand at the end of FY19
- Before today’s trading halts, shares in TNT were trading for 22 cents each
North American focused explorer TNT Mines has entered two consecutive trading halts as it gets ready to announce a capital raising.
The exploration company’s shares will remain in a trading halt until Friday, October 23, at the latest.
Shareholders will likely have to wait until then to find out how much TNT plans to raise and what the funds will be used for.
TNT ended the 2020 financial year with a $1.57 million loss after income tax, a deepening of last year’s loss of $1.07 million.
The company also ended FY20 cashflow negative, tabling over $428,000 in operating cash outflows.
At June 30, 2020, TNT had just over $1.79 million worth of cash in the bank, which is slightly down on the $2.58 million it had at the end of FY19.
Before today’s capital raise announcement, and associated trading halts, shares in TNT Mines were trading for 22 cents each on Friday, October 16.