- Volt Resources (VRC) shares are locked up in a trading halt as the company flags plans for an upcoming capital raise
- Further information regarding the raise is expected on September 1, when the trading halt is set to be lifted
- Volt revealed it had roughly $245,000 in cash and equivalents in it most recently quarterly cashflow report
- The company says it expects to be successful in its endeavour based on its history of sourcing capital
- Prior to today’s trading halt, Volt Resources shares last changed hands at three cents
Volt Resources (VRC) shares are locked up in a trading halt as the company flags plans for an upcoming capital raise.
The graphite exploration company advised its shares were likely to remain in the voluntary trading halt until September 1.
It is anticipated further details regarding the raise will be made to market at this time.
The call for capital comes roughly a month after the company released its quarterly activities and cashflow report, which revealed Volt had roughly $245,000 in cash and equivalents.
The balance was enough to see it through less than a quarter based on spending levels at the time.
Volt said it was evaluating funding options for further working capital in its explanation to the ASX as to how it planned to approach short-term cashflows.
“The company is evaluating funding options for further working capital which may be equity, debt or a combination of the two and expects to be successful based on the company’s history of sourcing capital,” the report read.
Prior to today’s trading halt, Volt Resources shares last changed hands at three cents on August 27.