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- Copper and gold explorer Peako (PKO) will enter the weekend in a trading halt ahead of a capital raise
- This means company shares will be paused until Tuesday, September 1, or until Peako releases more details on the raise
- Recently, the company completed a detailed satellite-based remote sensing survey at its Eastman tenement in the East Kimberley
- Results from this survey have shown new gold and base metal targets, which are ready for fieldwork
- Peako last traded for 3.7 cents per share on August 27
Copper and gold explorer Peako (PKO) will enter the weekend in a trading halt ahead of a capital raise.
So far, the company has not provided details on the raise, meaning it’s unclear what the funds will be used for and how much Peako wants to bring in.
Peako shares will be paused until Tuesday, September 1, or until Peako releases more details on the raise.
Recently, the company completed a detailed satellite-based remote sensing survey at its Eastman tenement in the East Kimberley. Results from this survey have shown new gold and base metal targets for fieldwork.
The company said the results to date are highly encouraging, with multiple gold, copper, zinc, nickel and PGE targets, which are ready for the upcoming field season.
“Despite the East Kimberley being the focus of Western Australia’s first commercial gold discovery in 1885, Peako’s tenements have very little gold focussed exploration,” Chairman Geoff Albers said earlier this month.
“While we maintain or multi-commodity approach the satellite-based remote
sensing survey and interpretation, backed up by historic activities, point the way to the highly gold prospective nature of Peako’s tenements,” he added.
Peako last traded for 3.7 cents per share on August 27.
