Sipa Resources in trading halt ahead of capital raising news

Sipa Resources Ltd (ASX:SRI) has been granted a trading halt by the ASX ahead of a capital raising announcement.

The companys securities will remain halted until Friday, September 18, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 9 cents and have risen from 5.1 cents since the market close on July 6.

Progress on WA gold and base metal projects [hhmc]

Sipa has made progress on three of its projects, with drill testing of base-metal gossan targets set to take place next month at its Wolfe Basin Base Metals Project and a detailed aeromagnetic survey to start at Warralong Gold Project, also in October.

In addition, conditions precedent to a farm-in and joint venture agreement with Rio Tinto Exploration Pty Ltd (RTX) for the Paterson North Copper-Gold Project have been satisfied, and RTX now can subscribe for 2.5 million ordinary Sipa shares.

The company said the planned drilling to test priority base-metal gossan targets at the Wolfe Basin project in Western Australia was on track to commence within weeks, folRead More – Source




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