- Castile Resources (CST) enters into a trading halt as it plans for an upcoming capital raise
- It is not known how much the company is aiming to raise or where the funds will be spent
- Company shares will be paused until Monday, August 1, or when further details about the raise are released
- Over the June quarter, Castile said its drilling was “extremely successful” and it announced a “significant” new high-grade gold discovery zone at Jupiter Deeps
- On the market, CST last traded at 15.5 cents on July 27
Castile Resources (CST) has entered into a trading halt as it plans for an upcoming capital raise.
It is not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Monday, August 1, or when further details about the raise are released.
Over the June quarter, the company said its drilling was “extremely successful” and saw Castile announce a “significant” new high-grade gold discovery zone at Jupiter Deeps within its Rover-1 project in the NT.
A total of 1820 metres of diamond drilling was completed at Rover 1, with assay results released this month.
Results included 31 metres at 4g/t gold with one per cent copper from 868 metres.
Over the period, the company spent $287,000 in operating activities and at the end of June, Castile had around $4.4 million in cash.
On the market, CST last traded at 15.5 cents on July 27.