L&M Energy shares halted pending announcement on capital raising

Share trading in L&M Energy has been halted pending a statement on a capital raising plan.

The coal seam gas and natural gas development company this month announced a feasibility study with Invercargill-based transport firm HW Richardson on developing small scale liquefied natural gas projects, starting with L&M’s gas asset near Ohai in Southland.

Shares of L&M last traded at 15 cents, giving the company a market value of $27 million. The stock has fallen 12% in the past three months.

Businesswire.co.nz

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