- Todd River Resources (TRT) begins the week in a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until Wednesday, November 2, or when the announcement is released, whichever occurs first
- In its recently released September quarterly report, TRT highlighted the intersection of broad copper and platinum group element anomalism at the Chandler prospect in WA
- The company also announced it had burnt through $794,000 and ended the period with nearly $3.8 million in total available funding
- Shares in Todd River last traded at 1.9 cents on October 28
Todd River Resources (TRT) has begun the week in a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until Wednesday, November 2, or when the announcement is released, whichever occurs first.
Todd River is yet to disclose how much it intends to raise or what it will use the money for once received.
In its recently released September quarterly report, Todd River highlighted the intersection of broad copper and platinum group element anomalism at the Chandler prospect in Western Australia.
Further, a fixed loop electromagnetic survey at the Trix prospect confirmed a significant bedrock conductor while fieldwork at the Mt Hardy project confirmed several new areas of surface zinc and copper mineralisation.
Looking at its finances, Todd River revealed it had burnt through $794,000 for the three months with the majority going towards exploration and evaluation.
As of September 30, the company had nearly $3.8 million in total available funding, representing 4.8 quarters of use if spending levels remain the same.
Shares in Todd River last traded at 1.9 cents on October 28. The company has a $10.86 million market cap.