Core Exploration Ltd (ASX:CXO) is focused on the Finniss Lithium Project, located near Darwin in the Northern Territory.
Core has been developing direct shipping ore studies for the Grants lithium deposit.
The company recently outlined that off-take discussions are maturing with potential project partners.
Core is now heading to market with a capital raising, and has been granted a trading halt by the ASX.
The halt will remain in place until the opening of trade on Wednesday 30th August 2017, or earlier if an announcement is made to the market.