Kagara in halt over capital raising plan

Shares in miner Kagara have been placed into a trading halt pending the release of capital raising details.

The halt comes on the back of a series of announcements by resource companies this month that had either successfully raised capital or were planning to raise funds.

Shares in Kagara last traded at 42 cents today.

The miner yesterday released its December quarterly results, revealing that its payables had increased by $31 million largely due to falling commodity prices.

At the end of the period, Kagara's payables stood at $83.1 million, including a provisional pricing liability of $34.5 million relating to earlier shipments to offtake partners.