- Alice Queen (AQX) ends the week in a trading halt regarding a proposed capital raising
- Shares in the company will be paused until Tuesday, August 2, or when further details are released to the market, whichever occurs first
- Prior to entering the halt, Alice Queen’s most recent news was from mid-June when it received results from its recently completed diamond drill program at the Jedha-1 target
- All holes returned gold intercepts with a best result of one metre at 4.6g/t gold from 165 metres encountered
- Shares in Alice Queen last traded at 0.4 cents on July 27
Alice Queen (AQX) has ended the week in a trading halt regarding a proposed capital raising.
Shares in the company will be paused until Tuesday, August 2, or when further details are released to the market, whichever occurs first.
Alice Queen is yet to disclose how much it intends to raise or what it will use the funds for once received.
Prior to entering the trading halt, Alice Queen’s most recent news was from mid-June when it received results from its recently completed diamond core drilling program at the Jedha-1 target.
The Jedha-1 target is part of the Southern Silicified Ridge prospect which is part of the Horn Island gold project in Queensland.
Best results included one metre at 4.6g/t gold from 165 metres, one metre at 4.2g/t gold from 244 metres and four metres at 4.1g/t gold from surface.
Following the drilling, the gold system at the Southern Silicified Ridge prospect extends to a 200-metre depth over a one-kilometre strike and remains open.
Alice Queen last tapped investors for cash in April when it undertook a $1.5 million placement.
The funds were raised through the issue of 255,366,667 shares to professional and sophisticated investors at a price of 0.6 cents.
Alice Queen said it would use the money to undertake exploration drilling at Horn Island and progress discussions regarding joint venture opportunities on NSW projects.
Shares in Alice Queen last traded at 0.4 cents on July 27. The company has a $6.79 million market cap.