- Black Cat Syndicate (BC8) has entered a trading halt, pending the announcement of a capital raise
- The gold explorer will release details of the capital raise in the coming days
- Meanwhile, the trading halt will be lifted once the announcement is made, or on July 15
- The company recently agreed to acquire the Yarri East Project in WA for $200,000
- The Yarri Project lies to the north of Black Cat’s existing Bulong Gold Project
- Meantime, shares in Black Cat were last trading for 88.5 cents per share
Gold explorer Black Cat Syndicate (BC8) has entered a trading halt, pending a capital raise announcement.
The company is expected to release details of the capital raise in the next several days.
While the trading halt will be lifted once the announcement is made, or on July 15, whichever occurs first.
The capital raise comes after the gold explorer recently announced it would be acquiring the Yarri East Project in WA.
Under the deal, Black Cat will pay a cash consideration of $200,000 to a subsidiary of Newmont Corporation and RBR Group to acquire the full project. It’ll also have to pay one per cent net smelter royalty.
The sale allows the company to expand its landholding around its existing Bulong Gold Project.
It also makes Black Cat the fifth-largest landholder within 50 kilometres of Kalgoorlie.
Before the trading halt, shares in Black Cat were trading for 88.5 cents per share on July 10.