- Australian mining and exploration company Dampier Gold (DAU) enters a trading halt ahead of capital raise announcement
- Dampier is expected to remain in a trading halt until December 7, 2020
- It currently operates a number of gold projects in Western Australia including the K2 Gold Deposit and the Ruby Plains Gold project
- The explorer’s annual report shows an increased net asset position from 2019 to 2020, but a decline in year-on-year revenue
- The company entered the trading halt this morning and is trading at 6.4 cents per share
Australian mining and exploration company Dampier Gold (DAU) enters a trading halt ahead of capital raise announcement.
The trading halt was announced this morning and is expected to remain until December 7.
Dampier has a number of successful drilling results under its belt ahead of the raise, including findings from the Credo Gold and Zulekia Gold projects.
Dampier commenced its maiden drilling program at the Zuleika JV project in April this year, including strategic operation targets at Paradigm East and testing highly prospective zones at Browns Dam and Castle Hill East.
These, alongside their Menzies and Goongarrie gold projects, comprise Dampier’s Kalgoorlie and Menzies gold portfolio.
The explorer reports a year-on-year loss in revenue from $37,066 to $14,950 and an increased net asset position from $2,248,501 to $2,589,681 in its most recent annual statement.
DAU says it has no other information necessary to inform the market about the capital raising.
Shares in Dampier were last traded at 6.4 cents each at 1:21 pm AEDT.