Tempest Minerals Ltd (ASX:TEM) has been granted a trading halt by the ASX as it prepares to make a capital raising announcement.
The halt will remain in place until the start of regular trade on Thursday, August 26, or until an announcement is released to the market, whichever occurs earliest.
Iron-rich targets at Euro Project
Last month, the company identified further highly prospective iron-rich targets at its Euro Project in the Yalgoo Region of Western Australia.
The company’s mapping has identified an additional 45 outcrops of similar iron-rich geology in the south and central parts of the Euro Project, extending the overall potential strike length to more than 20 kilometres.
Ongoing fieldwork continues to uncover geology prospective for gold, base metals and iron ore in an environment known for world-class deposits, including four major mining projects within 5 kilometres.
Tempest’s Euro Project comprises more than 176 square kilometres of wholly-owned tenements and forms part of its exploration portfolio in the southern Yalgoo Greenstone belt.