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- Todd River Resources (TRT) has requested an immediate trading halt regarding an upcoming capital raise
- The halt will remain in place until August 17 or when the announcement is made
- Yesterday, Todd River began a fixed-loop transient electromagnetic (TEM) survey at its Nanutarra Nickel project in Western Australia
- Because it’s subject to limited exploration, the company believes the project is prospective for intrusion-related mafic hosted nickel sulphide mineralisation
- The aim of this program is to identify targets for follow-up work
- Shares in Todd River last traded for four cents each on August 11
Todd River Resources (TRT) has requested an immediate trading halt regarding an upcoming capital raise.
The halt will remain in place until August 17 or when the announcement is made.
Yesterday, Todd River began a fixed-loop transient electromagnetic (TEM) survey at its Nanutarra Nickel project in Western Australia.
Because it’s subject to limited exploration, the company believes the project is prospective for intrusion-related mafic hosted nickel sulphide mineralisation.
The aim of this program is to identify targets for follow-up work.
Todd River last entered a trading halt in late June regarding the acquisition of Marlee Base Metals and Moonknight.
To acquire Marlee, the company will pay $60,000 cash consideration and 66,666,667 shares at an issue price of 1.5 cents each, while the Moonknight transaction consists of $40,000 in cash and 33,333,334 shares, also priced at 1.5 cents.
All up, TRT will hand over $100,000 in cash and 100,000,001 shares for both transactions.
Both of these companies hold tenements over nickel-copper anomalous ultramafic intrusions at Berkshire Valley, 100 kilometres from Chalice Gold Mines’ Julimar discovery.
Once completed, Todd River will hold a 270 square kilometre land position in the Yilgarn Craton, with multiple nickel-copper anomalous bodies.
Shares in Todd River last traded for four cents each on August 11.
