Chase Mining Corporation Ltd (ASX:CML) has a capital raising announcement pending and has been granted a trading halt by the ASX.
The trading halt will remain in place until the beginning of regular ASX trade on Thursday, May 28, 2020, or when an announcement is released to the market, whichever occurs earliest.
Securities last traded at 1.7 cents and have risen from 0.6 cents at close on March 30.
COVID-19 impacts
In March the company announced the postponement of drilling at the Alotta and Lorraine projects in Quebec, Canada, due to the global COVID-19 pandemic.
All those involved with ongoing activities at Chase Mining have been working from home or remotely with communications undertaken electronically by email, video or phone.
When the situation returns to normal, the company will focus its Alotta drilling efforts on the new style of late-stage porphyry mineralisation as well as a bonanza-grade copper plus palladium mineral assemblage.
At Lorraine, the drilling will focus on the unmined high-grade gold potential below 250 metres in depth of mine workings.