- Mineral exploration company BMG Resources (BMG) has entered a trading halt ahead of an upcoming capital raise
- It is unknown how much the company is aiming to raise or what the funds will be for
- BMG shares will be paused until Monday, July 12, or when more details about the raise are released to the market
- On the market, BMG last traded at 6.4 cents per share on July 7
BMG Resources (BMG) 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, BMG shares will be paused until Monday, July 12, or when more details about the raise are released to the market.
BMG is a minerals exploration company targeting the discovery and development of gold resources. It has three gold projects in Western Australia.
In March, the company received all outstanding assay results from its recently completed drilling program at the Abercromby Gold Project.
This drilling program was the first to be undertaken at the project in more than 15 years.
Best results from this drill program peaked at 21.22 grams per tonne of gold and they have confirmed broad gold zones exist at the project.
On the market, BMG last traded at 6.4 cents per share on July 7.