- Twenty Seven Co (TSC) has entered back-to-back trading halts ahead of a proposed capital raise
- This is the second capital raise-related trading halt that TSC has entered in under a month
- Last month, the gold and base metals explorer raised $500,000 to cover an option fee as part of an acquisition
- TSC entered an agreement with Oz Gold to acquire the Mt Dimer and Trident projects
- It is currently undertaking due diligence work, which has so far yielded positive results
- Whether or not the upcoming capital raise will support exploration and project activities is not yet certain
- Company shares last traded for 0.7 cents on Thursday, October 1
Twenty Seven Co (TSC) has entered back-to-back trading halts ahead of a proposed capital raise.
The company will remain in the trading halts until the earlier commencement of trading on Thursday, October 8, unless the details of the raise are announced earlier.
This is the second capital raise-related trading halt that TSC has entered in under a month.
While that trading halt related to acquiring a mining lease and three exploration licences, it also resulted in the company raising $500,000 through a placement.
The funds were put towards a non-refundable option fee of $200,000 to Oz Gold as part of the Mt Dimer and Trident gold-copper project acquisition.
Twenty Seven Co has since begun a 33-hole drilling program at its Rover Project in WA alongside due diligence activities at the Mt Dimer and Trident projects.
Whether or not the upcoming capital raise will support exploration activities or project development is not yet certain.
Company shares last traded for 0.7 cents on Thursday, October 1.