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Technology Metals Australia in trading halt ahead of equity raising news

The halt will remain in place until the start of trading on Monday, February 18, or when an announcement is released.
ASX sign
The company has a resource update and DFS pending for its vanadium project

Technology Metals Australia Ltd (ASX:TMT) (FRA:TN6) has been granted a trading halt by the ASX with news pending of an equity raising by way of a share placement.

The halt will remain in place until the start of ASX trading on Monday, February 18, 2019, or when an announcement is released to the market, whichever occurs earliest.

TMT’s shares last traded at 30 cents on Wednesday.

READ: Technology Metals Australia Ltd preparing vanadium resource update ahead of mid-year DFS

After receiving results from a 45-hole drilling program the company is preparing a resource update for the Gabanintha Vanadium Project in Western Australia.

This estimate, which will include base metals, will form part of a funded definitive feasibility study (DFS) for the project with completion of this expected by mid-2019.

Gabanintha’s current resource consists of 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the Southern Tenement.

READ: Technology Metals Australia bolsters executive team with development experience

TMT has this month strengthened its executive team, adding project development experience with the appointment of David English as project director for the Gabanintha project.

In this role, English will oversee progression of the DFS, which is being managed by Wave International supported by a range of industry leading consultants.

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Technology Metals Australia Ltd Timeline

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