Buxton Resources (ASX:BUX) is heading to market with a capital raising. The ASX has granted the company a trading halt to organise.
Just last month the company intersected high-grade graphite from diamond drilling at the Yalbra Graphite Project, located east of Gascoyne Junction in Western Australia.
Buxton owns 85% with Montezuma Mining Company (ASX:MZM) holding the remaining 15% of tenement (E09/1985).
Recent results included 30 metres at 22.5% Total Graphitic Carbon from 17 metres.
The halt will remain in place until the opening of trade on Wednesday 3rd September 2014, or earlier if an announcement is made to the market.
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