- Ausgold (AUC) has entered a trading halt while it inks out the details of an upcoming capital raising
- The company will remain in the halt until April 26 or when more details regarding the raise are released, whichever occurs first
- On April 15, Ausgold revealed a significant upgrade to its JORC 2012 mineral resource estimate at its Katanning Gold Project in WA
- The new resource reads 1.54 million ounces of gold and represents a 14 per cent increase in grade and a 28 per cent increase in total contained ounces
- Shares in Ausgold last traded at 5 cents on April 21
Ausgold (AUC) has entered a trading halt while it inks out the details of an upcoming capital raising.
The company will remain in the halt until April 26 or when more details regarding the raise are released, whichever occurs first.
Ausgold is yet to disclose how much it intends to raise or what it will use the funds for once received.
On April 15, Ausgold revealed a significant upgrade to its JORC 2012 mineral resource estimate (MRE) at its Katanning Gold Project in WA.
The new resource reads 1.54 million ounces of gold and represents a 14 per cent increase in grade and a 28 per cent increase in total contained ounces.
This update followed an assessment of the project’s central zone which spans across a 4.5-kilometre strike.
Additionally, a recently completed reverse circulation and diamond drilling program was incorporated into the update.
The aim of this drilling was to target high-grade mineralisation and strike extensions of known mineralisation.
Shares in Ausgold last traded at 5 cents on April 21. The company has a $65.01 million market cap.