PNX Metals Ltd (ASX:PNX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.
Funds will be used for the Hayes Creek Project, which has a promising future as a low-cost, high-margin zinc and precious metals mine.
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Yesterday the company collected an additional $800,000 in funding from an existing silver forward sales transaction.
The halt will remain in place until the opening of trade on Thursday 7th September 2017, or earlier if an announcement is made to the market.