Eclipse Metals has announcement pending on medium-size capital raising to sophisticated investors

Eclipse Metals Ltd (ASX:EPM) has been granted a trading halt with an announcement pending in relation to a capital raising placement to sophisticated investors.

In its application to the ASX for the halt, Eclipse said the proposed capital raising would be of "medium-size".

The halt will be in place until the start of normal trading on Tuesday, May 12, 2020, or when an announcement is released to the market.

Shares last traded at 0.9 cents, a 12.5% increase from the previous close.

Devils Elbow drill targets[hhmc]

The company recently identified 17 walk-up drill targets in its 100%-owned Devils Elbow Uranium-Gold-Palladium Project in Alligator Uranium Fields, Northern Territory.

Devils Elbow has already yielded extremely high-grade results from surface assays, trenching and drilling, including triuranium octoxide grades of 3.2%, 3.7%, 4.40% and 5.8% – with high-grade gold and palladium also encountered.

Interpretation of the recently acquired geophysicaRead More – Source

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