Alto raising halted after Habrok complaint

SYDNEY-based Habrok Mining’s petition to Australia’s Takeover’s Panel late yesterday has thrown a spanner in the works for Alto Metals, which announced a A$5.1 million entitlement offer on Monday to raise some much-needed capital for its Sandstone gold project in Western Australia.

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Alto, which has been subjected to multiple takeover approaches over the last year, said the bids had limited its ability to undertake capital raising activities, and it was in "imminent need for