- Calidus Resources (CAI) has requested its securities be placed in a trading halt, awaiting the release of a capital raising announcement
- The company will remain in the halt until July 17 or when the announcement is made, whichever occurs first
- On July 13, Calidus began drilling at the Otways Gold-Copper Project in Western Australia to verify and extend shallow, historical copper intercepts
- The company last entered a trading halt in August 2019 regarding a $9 million institutional placement
- Shares in Calidus last traded for 57 cents each on July 14
Calidus Resources (CAI) has requested its securities be placed in a trading halt, awaiting the release of a capital raising announcement.
The company will remain in the halt until July 17 or when the announcement is made, whichever occurs first.
A few days ago, on July 13, Calidus began drilling at the Otways Gold-Copper Project in Western Australia.
Five reverse circulation (RC) holes and one diamond hole will be drilled at the Otways prospect to verify and extend the shallow, historical copper intercepts.
Six RC holes will also be drilled on the Malachite Flats prospect to target high-grade rock chip samples that returned gold grades of up to 15.8g/t.
The company last entered a trading halt in August 2019 regarding a $9 million institutional placement.
The placement was completed two days later and the company stated it will use the money for ongoing drilling programs and to grow the 1.25 million ounce resource base at the Warrawoona Gold Project.
Shares in Calidus last traded for 57 cents each on July 14.