Atlantic Lithium Limited (ASX: A11) has recently seen a trading halt on ASX due to “proposed capital raising.” The Lithium exploration company has been trading on the ASX since 2006 and has suffered from prolonged lows in 2017.
Atlantic Lithium is a based in Australia and operates in the southern hemisphere, specifically focusing on lithium exploration in Latin America. The company’s sole objective is to investigate and develop projects in the continent to become a successful lithium producer. Atlantic Lithium has held 6 key projects in the past for exploration in Argentina, including the Salar de Hombre Muertes, and an exploration permit EP44/2005 in the Catamarca Province.
The trading halt has stoked speculation from investors, as the news came as a surprise for the company, as Atlantic Lithium has not released any news regarding the capital. Investors are wondering whether the company has finished exploration in Latin America or if the halt was a result of issues finding capital for other operations.
Atlantic Lithium has yet to disclose the focus of the planned capital raising. The trading halt is expected to remain in effect until June 29th, when an announcement is likely to be made. According to experts, the planned capital raising will likely enable the company to raise further exploration funds.
Overall, the trading halt made by Atlantic Lithium has led to a stir among investors and the public, as news of the planned capital has yet to be revealed. Although the company has been through a difficult year economically, it appears that the halt would imply a positive step in the right direction for the lithium exploration company. Investors will be eagerly waiting for further news from the Pacific-based mineral explorer.