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Latin Resources To Provide Details On Capital Raising

Latin Resources (ASX: LRS) is preparing to release details relating to a capital raising and has been granted a trading halt by the ASX today.

The company previously launched a non-renounceable entitlement issue of options to raise just over A$1 million to progress its projects in Peru.

Latin deferred the initial entitlement issue and plans to issue a revised timetable.

Proceeds from the option issue will be used to fund Peruvian exploration, in particular the drilling program at the Ilo Norte copper-gold project.

At Ilo Norte and Ilo Sur, Latin has a considerable tenement footprint in a highly prospective region with several tier one projects in proximity to Latin's holdings.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Tuesday 23 April 2013.

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