European Lithium Ltd (ASX:EUR) has been one of the best performing stocks on the ASX over the past month, gaining 500% to $0.29.
The company is progressing a pre-feasibility study for its Wolfsberg Lithium Project located in Austria.
Tony Sage, chairman, has also been increasing his stake in the company.
READ: European Lithium chairman Tony Sage increases shareholding further
European Lithium is now taking the opportunity to boost its cash position through a capital raising, and the ASX has granted a trading halt to prepare.
The halt will remain in place until the opening of trade on Thursday 7th December 2017, or earlier if an announcement is made to the market.