- AuTECO Minerals (AUT) places its shares in a trading halt pending the release of a capital raising announcement
- The company’s shares will remain in the halt until February 21 or when the announcement is released, whichever occurs first
- On February 15, AuTECO revealed it had increased the inferred mineral resource estimate (MRE) by 30 per cent at its Pickle Crow gold project in Canada
- The MRE now reads 2.23 million ounces at 7.8 grams per tonne (g/t) gold and comes just six months after the previous resource update
- Shares in AuTECO last traded at 8.4 cents on February 16
AuTECO Minerals (AUT) has placed its shares in a trading halt pending the release of a capital raising announcement.
The company’s shares will remain in the halt until February 21 or when the announcement is released, whichever occurs first.
AuTECO is yet to disclose how much it intends to raise and what it will use the funds for once received.
On February 15, AuTECO revealed it had increased the inferred mineral resource estimate (MRE) by 30 per cent at its Pickle Crow gold project in Canada.
The MRE now reads 2.23 million ounces at 7.8 grams per tonne (g/t) gold and comes just six months after the previous resource update.
The high-grade quartz vein component increased to 1.92 million ounces at 9.3g/t gold while the near-surface resource increased to 304,000 ounces at 3.8g/t gold.
AuTECO has now shifted its focus to regional targeting with three of the five drill rigs testing targets outside of the resource area.
Shares in AuTECO last traded at 8.4 cents on February 16. The company has a $141.8 million market cap.