1st Oct 2018 11:52
LONDON (Alliance News) - Crusader Resources Ltd shares were suspended from trading on AIM on Monday pending "clarification of its financial position".
The mineral exploration company said that its directors were pursuing a number of debt and equity funding options to ensure its survival.
If the directors fail to raise new funds, "there would be a material uncertainty whether the group would be able to continue" the company said.
The company required its shares to be suspended from trading to be able to "consider various proposed capital raising initiatives" which will provide working capital enabling it to continue developing its two gold projects in Brazil.
"The directors confirm that the company remains in positive discussions with a number of providers of both debt and equity funding and are considering a number of proposals with regard to asset divestiture. However, no funding or disposal agreement has been concluded as yet," Crusader explained.
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