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Comet Ridge to bag cash after share run

The halt will remain in place until Friday 10th November 2017.

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The company's shares are in pre-open

Comet Ridge Ltd's (ASX:COI) shares closed at $0.275 yesterday, around double their value from two months ago, and the company is taking the opportunity to head to market with a capital raising.

The raising will comprise a placement to professional and sophisticated investors, and the ASX has granted a trading halt to prepare.

Comet remains focused on natural gas in eastern Australia, providing the potential opportunity to supply much needed product into the local market.

The halt will remain in place until the opening of trade on Friday 10th November 2017, or earlier if an announcement is made to the market.

Quick facts: Comet Ridge Ltd

Price: 0.105 AUD

ASX:COI
Market: ASX
Market Cap: $82.85 m
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