- This morning, Aldoro Resources (ARN) entered a trading halt ahead of a capital raising announcement
- Perhaps the company is ensuring it is well-funded for drilling programs planned throughout the rest of 2020
- Aldoro recently announced plans to conduct aircore drilling at its Penny South and Unaly Hill projects in WA
- Before drilling can commence at Unaly Hill, a program of work will need to be granted
- Aldoro Resources last traded for 9.6 cents each on July 10
This morning, Aldoro Resources (ARN) entered a trading halt ahead of a capital raising announcement.
The WA-based gold and nickel explorer expects the announcement will be made before the commencement of normal trading on Wednesday, July 15.
Perhaps the company is ensuring it is well-funded for drilling programs planned throughout the rest of 2020.
Recently, Aldoro announced plans to commence aircore drilling programs at its Penny South and Unaly Hill projects in Western Australia.
Drilling at Penny South will target three specific new areas around the tenement which weren’t tested in drilling programs conducted in January and April this year.
The second upcoming drilling program will focus on two structural targets at Unaly Hill which are associated with anomalous gold-in-saprolite values. Drilling will follow up on these results in light of Aldoro’s new geological interpretation of the area.
Before drilling at Unaly Hill can begin, however, a recently-lodged program of work will need to be granted.
Aldoro Resources last traded for 9.6 cents each on July 10.