Lodestar Minerals (ASX: LSR) has been granted a trading halt by the ASX and placed in pre-open pending the finalisation of a capital raising.
Lodestar has not yet indicated where the new funds will be allocated, but the company has some well positioned projects in Western Australia which includes the Peak Hill - Doolgunna project which is adjacent to Sandfire Resources' (ASX: SFR) DeGrussa deposit.
The company has over 2000 square kilometres of tenements located over the margin of the Marymia Inlier, adjacent Yerrida Basin sediments and important regional structures such as the Jenkin Fault.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 26th October.
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