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Corazon Mining in trading halt with capital raising announcement pending

The trading halt will remain in place until Thursday, February 13, or when an announcement is released.

Corazon Mining Ltd - Corazon Mining in trading halt ahead of capital raising
Corazon controls the entire Lynn Lake Mining Centre in Manitoba, Canada

Corazon Mining Ltd (ASX:CZN) has been granted a trading halt by the ASX with a capital raising announcement pending.

The halt will remain in place until that start of normal trading on Thursday, February 13, or when an announcement is released to the market – whichever occurs earliest.

Earlier this month the company reviewed its Lynn Lake Nickel Project in Manitoba, Canada, ahead of accelerated exploration and development plans following improved nickel markets.

New resource estimates completed 

As part of Corazon’s process of defining Lynn Lake’s development potential, new quality resource estimations have been completed and modern metallurgy has delivered a major technical breakthrough, producing separate high-value and high-purity nickel and copper concentrates.

This work will enable the determination of value for the historical Lynn Lake mining centre in Manitoba at a time when there is an expectation of future increased demand for metals.

With little modern exploration being undertaken, the company believes the opportunity for discovery at Lynn Lake is substantial.

Quick facts: Corazon Mining Ltd

Price: 0.002 AUD

ASX:CZN
Market: ASX
Market Cap: $4.82 m
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