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Australian Potash in trading halt regarding a capital raising

The halt will remain in place until Tuesday, May 5, or when an announcement is released to the market.

Australian Potash Ltd - Australian Potash in trading halt regarding a capital raising
Aircore drilling has defined several gold and pathfinder element bedrock anomalies at Lake Wells gold JV

Australian Potash Ltd (ASX:APC) has been granted consecutive trading halts with capital raising announcements pending.

In an application to the ASX, the company said: "Australian Potash Ltd requests that the securities of the company be placed in two consecutive trading halts of up to four trading days with immediate effect.

"The consecutive trading halts are requested for the purpose of considering, planning and executing a capital raising."

This halt will remain in place until the beginning of normal ASX trading on Tuesday, May 5, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 7.7 cents and are up from 6 cents at close on March 13.

Identification of gold anomalies

Australian Potash has welcomed the recent identification of gold anomalies by earn-in partner St Barbara Ltd (ASX:SBM) in regional aircore drilling at the Lake Wells Gold Project joint venture in WA.

Initial broad-spaced aircore drilling defined several gold and pathfinder element bedrock anomalies that warrant further follow-up drilling.

The more significant results were returned from the south-eastern tenements, known as the SYAC.

Managing director Matt Shackleton said at the time: “We are extremely pleased with the results from the first full year’s exploration work by our joint venture partner, St Barbara.

“The identification of multiple large gold anomalies and corresponding alteration systems is a fantastic outcome from the aircore program."

Quick facts: Australian Potash Ltd

Price: 0.16 AUD

ASX:APC
Market: ASX
Market Cap: $77.85 m
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