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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.
Core Lithium granted trading halt pending capital raising activity
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.

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Core Lithium Ltd Timeline

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