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Core Lithium granted trading halt pending capital raising activity

The company is undertaking a definitive feasibility study at its Finniss Lithium Project in the NT.

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Finniss comprises over 500 square kilometres of tenements across the Bynoe pegmatite field

Core Lithium Ltd (ASX:CXO) has been granted a trading halt by the ASX pending an announcement regarding a capital raising.

The halt will remain in place until the earlier of the start of trading on Monday, December 10, or until an announcement is released to market.

READ: Core Lithium releases maiden resource for Sandras, shares rise

The company recently boosted its JORC resource inventory through the release of a maiden resource for the Sandras lithium deposit within the Finniss Lithium Project, Northern Territory.

The resource at Sandras totals 1.3 million tonnes grading 1.0% lithium and it boosts the overall resource for the Finniss Project to 6.34 million tonnes grading 1.39% lithium.

The growing lithium resource at Finniss increases the project’s potential value as a future mining operation which is being investigated further by an ongoing definitive feasibility study.

Core is targeting commencement of mining and construction in mid-2019 and first production of high-quality spodumene concentrate in late 2019, subject to financing and regulatory approvals.

Quick facts: Core Lithium Ltd

Price: 0.075 AUD

ASX:CXO
Market: ASX
Market Cap: $74.57 m
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Core Lithium expects to be construction-ready at Finniss Lithium project by...

Core Lithium Ltd's (ASX:CXO) Stephen Biggins tells Proactive's Andrew Scott their short- and medium-term goals have not been materially impacted by the COVID-19 pandemic and excellent progress is being made on the updated feasibility study for the Finniss Lithium Project in the Northern...

on 5/5/20

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