- Gold explorer Chesser Resources (CHZ) enters a trading halt as it finalises details on a capital raise
- Under the halt, company’s stock will be paused until Thursday, March 31 or when an announcement on the raising has been made to the market
- Earlier this month, Chesser tabled a scoping study on the proposed development of its Diamba Sud gold project in Senegal showing a 7.5-year mine life based on predicted production of 704,000 ounces of gold
- CHZ shares last traded at 13 cents
Chesser Resources (CHZ) has entered into a trading halt ahead of an upcoming capital raise.
The company has requested its stock remain in the trading halt until the earlier of the commencement of trading on Thursday, March 31 or when details on the raising are released to the market.
Chesser is an Australian-based gold company with projects in Senegal, West Africa.
Earlier this month, the company reported encouraging outcomes from a scoping study on the proposed development of its Diamba Sud gold project.
The study, which was focused on the Areas A and D deposits, pointed to the project’s technically simple and low-risk nature having the strong potential to generate economic value.
According to the study, Diamba Sud has a predicted initial 7.5-year mine life based on production of 704,000 ounces of gold, with a payback period of just 15 months from commercial production commencement.
CHZ shares last traded at 13 cents.