Northern Minerals Limited (ASX: NST) has requested and been granted a trading halt by the Australian Securities Exchange (ASX). The halt, announced on October 25, precedes an anticipated capital raise. Northern Minerals is focused on developing significant deposits of heavy rare earths. The company aims to be a reliable, sustainable supplier of ethically produced dysprosium and other critical minerals.
The trading halt will remain in effect until the earlier of two conditions being met. The first condition is the commencement of normal trading activity on Thursday, October 27. The second condition is if the company makes an announcement to the market regarding the capital raise before that date.
The ASX’s decision to grant the trading halt is standard practice when a listed company is about to undertake a significant capital raising activity. This ensures that all investors have equal access to information before trading resumes. Investors and market observers are advised to monitor the ASX announcements platform for further details from Northern Minerals regarding the specifics of the capital raise and the lifting of the trading halt.
Shareholders are advised to seek professional financial advice and consider their own personal circumstances before making investment decisions. Any further details on the capital raising should be released to the market imminently, or when trade resumes.