- Bellevue Gold (BGL) has entered a trading halt this morning ahead of a capital raise announcement
- The trading halt comes after announcing a maiden indicated resource of 860,000 ounces at 11.6g/t gold at its namesake project in WA
- Bellevue has its eyes on further increasing the indicated category by converting more of the inferred resource adjacent to high-grade core
- Whether the capital raise is geared to support exploration activities is not yet known
- Company shares last traded for $1.12 each on July 8
Bellevue Gold (BGL) has entered a trading halt this morning ahead of a capital raise announcement.
The company will remain in a trading halt until the earlier commencement of normal trading on Monday, July 13, or when the announcement is released to the market.
The trading halt comes after the company announced a maiden indicated resource of 860,000 ounces at 11.6g/t gold at its namesake project in Western Australia.
A total of 1.4 million ounces at 9.2g/t gold makes up the Inferred category. Together, the inferred and indicated resources make up the Bellevue Project’s total 2.3 million-ounce global resource at 10g/t.
Bellevue has its eyes on further increasing the indicated category by converting more of the inferred resource adjacent to high-grade core.
The WA-based company is conducting infill drilling as well as drilling to target extensions to the resource at the recently discovered Government Well area.
Bellevue aims to increase the indicated category by the December quarter.
Whether or not the capital raise is geared to support exploration activities is not yet known.
Company shares last traded for $1.12 each on July 8.