Join our daily newsletter At The Bell to receive exclusive market insights
- Great Northern Minerals (GNM) has entered a trading halt as it gets ready to announce another capital raise
- This is the company’s third capital raise for 2020, with raises also undertaken in June and March
- Great Northern’s shares will remain in a trading halt until August 31, or until the announcement is released
- Recently, the company released some results from its maiden drilling results at its Camel Creek Gold Project
- Great Northern said it intersected gold mineralisation in all 18 holes it drilled
- Shares in GNM last traded for 2.1 cents each
Great Northern Minerals (GNM) has placed its shares in a trading halt ahead of a capital raise announcement, it’s third for the year.
The company raised $1.4 million via a placement in June, and another $2.25 million via an earlier capital raise in March.
The exact details of the latest capital raising venture are yet to be released, but the trading halt is expected to last until Monday, August 31 at the latest.
Meantime, this latest capital raise comes as Great Northern Minerals recently announced it had received very encouraging results from its maiden reverse circulation drilling program at Camel Creek Gold Project.
Recently, Great Northern’s latest results showed gold was encountered in all 18 holes drilled, with results peaking at 4.1 grams per tonne of gold.
Before today’s trading halt, shares in Great Northern Minerals traded for 2.1 cents per share on August 26.
