Uranex (ASX: UNX) has requested a trading halt, pending an announcement by the company about a "substantial capital raising by way of a share placement" until Thursday 25 June 2009.
Uranex last traded at 40 cents. This continues the recent spate of capital raisings by uranium developers and explorers, as medium term supply worries re-surface and ignite investor interest.
The uranium explorer recently commenced the Pre-Feasibility Study for its Manyoni Project in Central Tanzania, following positive Scoping Study results.
The Study is scheduled for completion by December 2009 for the prospective Manyoni Project.
The current Manyoni JORC Inferred Resource is 15 million pounds of U3O8 above 100ppm U3O8. A new rig will provide low cost, high quality samples for the upgrade of the resource in 2009.