Australian Mines begins geophysical survey at Thackaringa Cobalt Project
The Sconi cobalt-nickel-scandium project in Queensland remains the company’s priority.
Company
ASX:AUZ
Australian Mines Limited is an ASX-listed exploration and development company focused on gold, critical metals and energy-storage technology across Australia and Brazil. The company is building a diversified portfolio that combines near-term gold exploration at Boa Vista with longer-term exposure to scandium, nickel, cobalt, tin, lithium and rare earth elements through its critical metals projects.
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The Sconi cobalt-nickel-scandium project in Queensland remains the company’s priority.
Australian Mines has commenced trial mining in Queensland.
Shares in Australian Mines have fallen 16.7% to $0.015.
The company is advancing off-take discussions with battery and vehicle manufacturers.
The halt will remain in place until Wednesday 6th September 2017.
The company is planning to start a pre-feasibility study at Flemington in October
Australian Mines had traded over 58 million shares by 3pm.
Australian Mines Ltd is Thursday's ASX Volume Leaders late in the trading session.
The company has raised $4.3 million to fast-track the projects.
The halt will remain in place until Tuesday 21st February.
Funds to be used to progress Sconi Scandium-Cobalt Project DFS.
The halt will remain in place until the opening of trade on Wednesday.
Australian Mines Ltd (ASX:AUZ) has been granted a trading halt by the ASX, pending details of a capital raising.
Australian Mines Ltd tops Monday's most traded at the close