Aeris Resources Ltd (ASX:AIS) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.
The halt will remain in place until the earlier of the start of normal trading on Monday, September 24, or when the announcement is released to the market.
READ: Aeris Resources marks June quarter as best in FY2018
Aeris achieved copper production for the June quarter of 7,592 tonnes, an 11% increase on the previous quarter and the best quarter for FY2018.
The company finished FY2018 with total copper production of 26,686 tonnes from its Tritton Copper Operations in New South Wales.
READ: Aeris Resources ready to drill massive Olympic Dam style target
Aeris also has a 70% non-working interest in the Torrens Copper Project in South Australia alongside Argonaut Resource NL (ASX:ARE).
Torrens is a coincident magnetic and gravity anomaly with a footprint considerably larger than that of the world-class Olympic Dam deposit.
The management committee of the Torrens joint venture recently resolved to proceed with the first stage 8-10 hole program targeting depths of 700-1,500 metres.