Technology Metals Australia Ltd (ASX:TMT) 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, September 23, or until an announcement is released to the market, whichever occurs earliest.
Latest from Yarrabubba
Technology Metals is undertaking resource drilling at the Yarrabubba Iron-Vanadium-Titanium project in Western Australia and has identified the thickening of massive magnetite zones.
Promisingly, the company is confident this will increase the mineral resource and ore reserve estimates at Yarrabubba, which is south of Meekatharra in Western Australia.
Geological modelling work is underway ahead of an update of the Yarrabubba mineral resource estimate, with assay results from RC and diamond drilling programs to be incorporated into the resource model.
Technology Metals is focused on identifying exploration projects in Australia and overseas to discover commercially significant mineral deposits.