Copper developer Metallum Limited (ASX:MNE) is heading to market...

Copper developer Metallum Limited (ASX:MNE) is heading to market with a capital raising, and the ASX has granted the company a trading halt with its shares placed in pre-open.

Earlier in the month the company outlined that there was an increase in mining and development activity during January at the San Sebastian concession at the El Roble cooper project in Chile.

Metallum said significant improvements to efficiency were gained though the introduction of an underground haulage dump truck and the establishment of natural ventilation via the break through of Shaft 1 to surface.

The halt will remain in place until the opening of trade on Tuesday 3rd March 2015, or earlier if an announcement is made to the market.