- Alderan Resources (AL8) enters a trading halt as the market awaits more news in regards to a capital raise
- Trading of AL8 shares will be paused until Wednesday, July 20, by which time the company would have released an announcement with further details
- Whilst it is unknown where funds will be directed, the company secured additional land at its Detroit project in Utah last month
- It plans to conduct geological mapping, soil and rock sampling as well as a ground geophysical survey over the area to identify drill targets
- Shares in the company last traded at 1.6 cents each on July 11
Alderan Resources (AL8) has entered a trading halt as the market awaits more news in regards to a capital raise.
Trading of AL8 shares will be paused until Wednesday, July 20, by which time the company would have released an announcement with further details.
It is not yet known how much it is looking to raise or where the funds will be directed.
However, it could possibly be spent on its Detroit project in Utah, after the company secured additional land at the end of last month.
The extra area gives Alderan 6.5 kilometres of uninterrupted strike, which hosts both the Drum and Mizpah oxide gold deposits.
The company plans to conduct geological mapping, soil and rock sampling as well as a ground geophysical survey to identify drill targets.
Shares in the company last traded at 1.6 cents each on July 11.