Sign up Australia
Proactive Investors - Run By Investors For Investors

PolarX granted trading halt pending news of a capital raising

The halt will remain in place until the start of normal trading on Friday, July 27, or when the announcement is released.
ASX sign
The company is exploring for copper-gold in Alaska

PolarX Ltd (ASX:PXX) has been granted a trading halt by the ASX as it intends to release details of a capital raising.

The securities will remain in a trading halt until the earlier of the start of normal trading on Friday, July 27, or when the announcement is released to the market.

PolarX last traded at 13 cents, up from Tuesday's close of 12.5 cents.

READ: PolarX drills copper sulphides 350 metres away from JORC resource

Earlier this week the company received more encouraging drill results from its Alaska Range Project in Alaska.

There were 9.6 metres of copper sulphides observed in core from a hole 50 metres east of the JORC-compliant resource at the Zackly copper-gold deposit.

In addition, drilling has hit visible copper oxides 850 metres along strike from the resource, visible gold 300 metres along strike, and visible copper and gold 100 metres below the resource.

Potential resource expansion

The results support a resource expansion for the deposit with Zackly also remaining open at depth and along strike in both directions.

Alaska Range also hosts the Caribou Dome deposit and the project boasts a combined resource of 127,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.

READ: PolarX concludes $2.52 million raise for Alaska Range coppergold project

Earlier this year PolarX completed a share placement to raise about $2.52 million from existing major shareholders and new investors via the issue of shares at 10.5 cents each.

View full PXX profile View Profile

PolarX Ltd Timeline

Related Articles

St George drills up nickel
October 08 2018
The company is addressing UK investors this week and Australian nickel market players later this month.
Picture of lithium cycle
May 10 2018
The inferred resource at Sadisdorf in Germany now stands at 25 million tonnes grading 0.45% lithium.
September 12 2018
Bluejay is now sending off product samples to potential customers

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use