- Catalyst Metals (CYL) has entered a trading halt regarding a capital raise and project acquisition
- The company will remain in the halt until December 18 or when an announcement is made, whichever occurs first
- Earlier in the month, Catalyst revealed it had intersected additional gold across its Victorian gold projects with grades peaking at 27.7g/t gold
- Catalyst last entered a trading halt in February 2019 in regards to a $13.02 million investment from Gold Exploration Victoria
- As a result, Gold Exploration now holds an 11 per cent interest in CYL
- Shares in Catalyst last traded at $2.48 on December 15
Catalyst Metals (CYL) has entered a trading halt regarding a capital raise and project acquisition.
The company will remain in the halt until December 18 or when an announcement is made, whichever occurs first.
Catalyst is yet to disclose how much it is aiming to raise and what it will use the funds for once received. No details have been provided about the project acquisition either.
Earlier in the month, Catalyst revealed it had intersected more gold across the Four Eagles gold project, the Golden Camel pit, and the Toolleen Gold Mine in Victoria.
Drilling was undertaken to follow-up on previous reverse circulation (RC) drilling, and test the potential beneath Golden Camel and at depth at Toolleen.
Grades peaked at 21.5g/t gold from Four Eagles, 5.0g/t gold from Golden Camel, and 27.7g/t gold from Toolleen.
Drilling is expected to resume next year, with priority focus at Toolleen to test a down-plunge target which is believed to span a length of around 200 metres.
Catalyst last entered a trading halt in February 2019 regarding a $13.02 million investment from Gold Exploration Victoria.
Around 8.68 million shares were issued to Gold Exploration at $1.50, representing an 11 per cent discount to the 30-day volume-weighted average price.
Upon completing the investment, Gold Exploration now holds an 11 per cent interest in Catalyst.
Shares in Catalyst last traded at $2.48 on December 15.