IMX Resources (ASX:IXR) is heading to market with a capital raising.
The ASX has granted the company a trading halt this morning, with its shares placed in pre-open.
Earlier in the week the company confirmed significant graphite results at the Chilalo Prospect on its Nachingwea Property, located in south-east Tanzania.
Rock chip samples return grades of up to 29.6% carbon.
65 historical rock chip samples collected from the company's wholly-owned Nachingwea Property returned grades of between 4.8% and 29.6% carbon, with an average grade of 12.9%.
41 samples returned values of greater than 10% carbon.
Adding to the prospectivity of the area, the Chilalo Prospect target area is located just 5 kilometres west of Uranex’s (ASX:UNX) Nachu Graphite Project.
The halt will remain in place until the opening of trade on Monday 4th August 2014, or earlier if an announcement is made to the market.
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