- Gold explorer AuStar Gold (AUL) 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
- Under the halt, company shares will be paused until Thursday, April 22, or when more information about the raise is released to the market
- Earlier this year, AuStar and White Rock Minerals (WRM) entered into a binding merger implementation deed
- This deal would see WRM purchase all shares in AuStar
- On the market, Austar last traded at 34.5 cents per share
AuStar Gold (AUL) has entered into a trading halt ahead of an upcoming capital raise.
So far, there are no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Thursday, April 22, or when more information about the raise is released to the market.
AuStar Gold is an exploration, mining and production company that has a portfolio of historical, near-term development and current assets based around the Morning Star Gold mine located approximately 120 kilometres east of Melbourne.
Earlier this year, AuStar and fellow ASX-lister White Rock Minerals (WRM) entered into a binding merger implementation deed (MID).
Under the agreement, White Rock will acquire all issued share capital in AuStar.
Additionally, in the wake of this “transformational period”, Philip Amery resigned from his position as AuStar Gold’s Chairman.
On the market, Austar last traded at 34.5 cents per share.