- Minerals explorer Viking Mines (VKA) has locked up its shares in a trading halt ahead of an upcoming capital raise
- The explorer advised investors can expect further details regarding the raise before the end of the week, at which time the trading halt will be lifted
- While Viking didn’t outline any specifics regarding the raise, it comes as it progresses with aircore and diamond drilling at its First Hit gold project in Western Australia
- Prior to the trading halt, Viking Mines shares last changed hands at 4 cents.
Minerals explorer Viking Mines (VKA) has locked up its shares in a trading halt ahead of an upcoming capital raise.
The ASX-lister requested its company shares remain in the trading halt until a formal announcement regarding the raise is made to market, which is expected on or before Friday, April 16.
The request for the trading halt did not disclose finer details regarding the raise such as how much it might look to raise or for what purpose.
In recent news for the explorer, Viking commenced drilling efforts at the First Hit gold project in Western Australia in a bid to collect fresh rock samples for analysis.
Viking reported earlier this month that the first air core drill phase had been completed and it had since progressed to diamond drilling, with eight holes and 1648 metres drilled so far.
More broadly, the explorer said ongoing activities continue to advance at First Hit, including geological modelling with new data collection to advance exploration targeting.
Prior to the trading halt, Viking Mines shares last changed hands at 4 cents.