Core Lithium enters trading halt with capital raise news pending

Core Lithium Ltd has entered a trading halt as it prepares to announce a capital raise to the Australian Securities Exchange. The halt will remain in place until the start of regular trade on Wednesday, August 11, or until an announcement is released to the market, whichever occurs earliest. Shares last traded at A$0.36, while the company’s market cap is approximately A$422.7 million. Australia's next lithium producer The company is a big step closer to becoming Australia’s next lithium producer after completing a positive definitive feasibility study (DFS) and two scoping studies for its flagship Finniss Lithium Project in the Northern Territory. The ASX-listed resources company recently unveiled its stage one DFS, an extension scoping study and a lithium fines scoping study, all of which outline the economic and producing potential of Australia’s most advanced new lithium mining project. Looking ahead, Core managing director Stephen Biggins said: “With the updated DFS now completed, we aim to finalise funding over the coming months to allow Core to make a final investment decision in 2021 and fast-track construction.” Overall, the studies outline a near-term pathway to an initial 10-year mine life at Finniss, which lies just 88 kilometres from Australia’s closest port to China in a tier-one, low-risk mining jurisdiction.