Winsome Resources Limited (ASX: WR1) announced a trading halt on the ASX today, citing an “announcement of a resolution to be put to security holders” as the reason for the suspension.
The resources company, which is listed on the Australian Securities Exchange, has been trading on the ASX since 2009. The company specializes in exploration, development, production, and marketing of mineral resources, particularly graphite and other minerals.
Winsome Resources has operations in Finland and Burkina Faso, and has recently entered into a joint venture with Bentley Resources Pty Ltd to develop its Yiminy Project, located in Western Australia.
The company had a robust 2020, with a profitable EBITDA of around A$4.6 million, which represents a 385% growth on the prior financial year. At the time of halting trading, WR1 had been trading at $0.145 a share, up 81 per cent since the start of the financial year.
The upcoming resolution to security holders is significant, given the company’s recent success in boosting its financial standing. Given the significance of the announcement, it is not surprising that the ASX put trading in WR1’s shares on hold.
This trading halt will remain in force until the earlier of either an announcement being made to market or the start of trading on Thursday, 17 June 2021. Therefore, investors should anticipate further information on the resolution to security holders in the coming days.
The coming announcement from Winsome Resources Limited (ASX: WR1) will be closely monitored by investors to see how the resolution to security holders impacts the company and its various operations. Given the company’s recent success and strong share price growth, investors should be keeping a close eye on the outcome of this announcement.
“Trading Time Out! – Winsome Resources Limited (ASX: WR1) Halts on ASX Exchange
