Lake Resources halts trading on planned fundraising
Lithium developer Lake Resources has requested a trading halt pending an announcement about a potential capital raising, the company said in a filing to the ASX on Thursday.
The lithium company, whose flagship Kachi project sits in Argentina’s lithium triangle, asked for the halt to remain until normal trading resumes on August 18 or the fundraising announcement is released.
While Lake did not disclose details of the transaction, the Australian Financial Review reported the company’s broker had been seeking to raise about A$10-million to finance an environmental-impact assessment for the Kachi project.
Lake shares last traded at A$0.072 apiece, giving the company a market capitalisation of about A$108-million.
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