Kingwest Resources (ASX:KWR) enters trading halt amid capital raise

• Kingwest Resources (KWR) has entered a trading halt ahead of an upcoming capital raise
• Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
• Company shares will be paused until Monday, May 31, or when more information about the raise is released to the market
• Kingwest last traded at 9 cents each on May 26

Kingwest Resources (KWR) has entered a trading halt ahead of an upcoming capital raise.

So far, it is unknown how much the company is aiming to raise or where the funds will be spent.

Under the halt, company shares will be paused until Monday, May 31, or when more information about the raise is released to the market.

Kingwest Resources is a mining and exploration company that is focussed on advancing its gold project in the Eastern Gold Fields region of Western Australia.

Earlier this month, the company received its final assay results from extensional drilling at its Menzies Gold Project.

Menzies is located north of Kalgoorlie and includes a number of gold deposits, which have been historically mined.

Significant recent results include 12 metres at 3.7 g/t gold from 102 metres at the Lady Shenton system, two metres at 17.3 g/t gold from 125 metres at Pericles and one metre at 19.1 g/t gold from 103 metres at Stirling.

Kingswest is now planning a further drilling program in the area.

Company shares last traded at 9 cents each on May 26.