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Coppermoly In Pre Open Pending Capital Raising Announcement

Coppermoly (ASX: COY) has been granted a trading halt by the ASX pending the release of a capital raising announcement.

While the company did not say what the raising was for, it is carrying out geophysics and drilling at Esk Trough in Queensland to decide on proceeding with an initial earn-in interest of 51% of the projects.

The Esk Trough Project has advanced exploration prospects which can be immediately drill tested.

ActivEX's (ASX: AIV) work in the past has intersected some wide zones of copper-gold mineralisation including 290 metres of 0.13% copper.

Importantly, the Queensland project has significant drill hole intersections, is accessible by roads and track and is close to existing infrastructure

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Thursday 26 April.

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