Arrow Minerals Ltd (ASX:AMD) is in trading halt ahead of a capital raising pursuant to a placement.
The company will be in trading halt until the beginning of trade on Friday, March 20 or when an announcement is made to market, whichever occurs earliest.
Fraser Range Nickel Project expansion
AMD and its partner IGO Ltd (ASX:IGO) recently expanded the size of their Plumridge Nickel Project in the Fraser Range region of Western Australia.
Three exploration licences combining for 160 square kilometres will increase the existing project by around 10% to 2,000 square kilometres.
During the current calendar year, IGO is planning to undertake diamond drilling following up last year’s results.
It also plans to conduct infill air core drilling and moving loop electromagnetic (EM) surveys to test geochemical and airborne EM anomalies.