Calidus Resources (ASX:CAI) to undertake capital raise

• Calidus Resources (CAI) enters a trading halt as the company prepares to undertake a capital raise
• Trading of CAI shares will be paused until Friday, August 12, or until the company releases more details about the funds it is looking to raise
• Whilst it is not known where the funds will be directed, CAI recently identified “compelling” gold anomalies in the region at its Blue Spec project
• It will now focus its fieldwork on identifying drill targets for program of work applications and heritage surveys
• Shares in the company last traded at 76.5 cents each on August 8

Calidus Resources (CAI) has entered a trading halt as the company prepares to undertake a capital raise.

Trading of CAI shares will be paused until Friday, August 12, or until the company releases more details about the funds it is looking to raise.

The company has two projects in the Pilbara gold field, focused on gold exploration, development and production.

Whilst it is not known where the funds will be directed, CAI recently identified “compelling” gold anomalies in the region at its Blue Spec project.

It collected 1115 samples over three areas of the project, with strong gold-in-soil anomalism defined over three kilometres of strike length within the Blue Spec fault zone.

CAI will now focus its fieldwork on identifying drill targets for program of work applications and heritage surveys.

Shares in the company last traded at 76.5 cents each on August 8.