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New Age Exploration tips off market to material capital raising

The company is about to commence drilling its Redmoor Tin-Tungsten Project.
words ASX on a screen
Investors expect to know more details by next Tuesday morning

New Age Exploration Ltd (ASX:NAE) has been granted a trading halt by the ASX ahead of a material capital raising.

Shares in the company will remain halted until the earlier of the release of information regarding the capital raising or the commencement of trading next Tuesday.

READ: New Age Exploration to recommence drilling to expand high-grade tin-tungsten resource

New Age is closing in on commencing drilling this month at its 50% owned Redmoor Tin-Tungsten Project in Cornwall, UK.

The planned 5,000-10,000-metre program is due to an encouraging economic evaluation based on recently completed mining, processing and surface infrastructure studies.

Drilling is aimed at extending the high-grade resource in order to increase the life of a potential mining operation and consequently its economic value.

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