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- Enterprise Metals (ENT) has requested an immediate trading halt pending an upcoming capital raising
- The company will remain in the halt until August 14 or when an announcement is made, whichever occurs first
- On August 10, Enterprise began a 14,000-metre aircore (AC) drilling program at its Mandilla Gold Prospect in Western Australia
- This program is designed to test the soil in Mandilla’s eastern area — which has never been previously drill tested — to target high-grade gold mineralisation
- Shares in Enterprise last traded for 2.6 cents each on August 11
Enterprise Metals (ENT) has requested an immediate trading halt pending an upcoming capital raising.
The company will remain in the halt until August 14 or when an announcement is made, whichever occurs first.
At this point, it is unsure how much the company wants to raise or what Enterprise will use the funds for.
On August 10, Enterprise began a 14,000-metre aircore (AC) drilling program at its Mandilla Gold Prospect in Western Australia.
This program is designed to test the soil in Mandilla’s eastern area which has never been previously drill tested.
Enterprise is aiming to target high-grade gold mineralisation, similar to that discovered by Anglo Australian Resources (AAR) at the western boundary of the Mandilla Gold Project.
The company last entered a trading halt in mid-February regarding the signing of an agreement.
A few days later, Enterprise announced that it had entered binding term sheets, giving it a three month period to undertake formal due diligence on the Archaean greenstone belt.
This belt is highly prospective, having produced over 10 million ounces of high-grade gold.
Shares in Enterprise last traded for 2.6 cents each on August 11.
