Liontown Resources (ASX: LTR) has been granted a trading halt today by the ASX pending the release of capital raising details, with the company's shares placed in pre-open.
Liontown has not yet indicated where the potential new inflow of funds will be allocated, but the company has recently been very busy with a drilling program at the Jubilee Reef joint venture in northern Tanzania - with all results forecast to be received by the end of this month.
The company has the right to earn 75% in the joint venture, with some drilling highlights from Masabi Central including; 62 metres at 2.4g/t gold from 70 metres; and 50 metres at 1.8g/t gold from 40 metres; and the higher grade 21 metres at 4.7g/t gold.
The halt will last until the earlier of an announcement being made to the market or the open of trade on Wednesday 22nd August.
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