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Kogi Iron enters trading halt ahead of capital raising

Kogi aims to become a producer of cast steel products through its Agbaja Cast Steel Project in Nigeria.

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Shares in the company last traded at 7.9 cents

Kogi Iron Ltd (ASX:KFE) has been granted a trading halt by the ASX pending the release of information regarding a proposed capital raising.

Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trading on Wednesday 29 May 2019.

READ: Kogi Iron establishes Remuneration and Nomination Committee

Kogi intends to build a cast steel plant at its 100% owned Agbaja Cast Steel Project in Kogi State, Nigeria.

The project will utilise company leased iron ore deposits and will supply a cast steel feedstock to steel manufacturing and product fabricators in Nigeria and overseas.

Kogi is progressing its definitive feasibility study (DFS) on the project and is working otwards the second and final phase of the Environmental Impact Study (EIS).

Quick facts: Kogi Iron Ltd

Price: 0.033 AUD

ASX:KFE
Market: ASX
Market Cap: $25.52 m
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