Arrow Minerals in trading halt ahead of a potential acquisition and capital raising
The company is exploring for gold, lithium and nickel in Western Australia
The trading halt will be in place until the beginning of trade on Wednesday, June 26, or when an announcement is made to market, whichever occurs earliest.
Earlier this month the company obtained results from the first pass aircore drilling program within the Strickland Gold Project in Western Australia.
A total of 55 holes were drilled to an average depth of 32 metres and intersected anomalous gold including 6 metres at 1.1 g/t gold from 11 metres.
Under a farm-in agreement Independence has the right to increase its interest in Plumridge from 51% to 90% through the expenditure of $5 million within four years from January 31, 2018.
This requirement has been met in just 17 months.