- Zinc of Ireland (ZMI) shares have entered a trading halt ahead of an acquisition and capital raising announcement
- The trading halt is set to be lifted on or before Wednesday June 30 when further information regarding the raise and acquisition is made to market
- The company says exploration activities have been hindered by the impacts of COVID-19 in Europe
- Zinc of Ireland reported an approximate cash balance of $444,000 as at 31 March 2021
- Prior to today’s trading halt, Zinc of Ireland shares last traded at 6.6 cents
Zinc of Ireland (ZMI) shares have entered a trading halt ahead of an acquisition and capital raising announcement.
The minerals explorer advised its shares were likely to remain in a trading halt until on or before Wednesday June 30, at which time shares are set to recommence normal trading.
At this stage, Zinc of Ireland has not offered any indication as to how much it is looking to raise or the nature of the acquisition.
ZMI says its focus is on advancing its flagship Kildare Project which is approximately 40 kilometres southwest of Dublin.
ZMI also reported exploration activities had been subdued as the company advised it was “unable to conduct normal exploration activities” given the impacts of COVID-19 in Europe.
Zinc of Ireland reported an approximate cash balance of $444,000 as at 31 March 2021, which was enough to see it through just shy of the next four quarters based on spending levels at the time.
Prior to today’s trading halt, Zinc of Ireland shares last traded at 6.6 cents.