- Estrella Resources (ESR) has requested a trading halt pending an upcoming capital raising
- The halt will remain in place until August 3 or when the announcement is made, whichever occurs first
- Estrella last entered a trading halt in early July regarding the disposal of its interest in the Munda Gold Project
- The company’s subsidiary, WA Nickel, entered a binding letter of offer with Auric Mining’s subsidiary, Widgie Gold, to dispose of the Munda Project for $1.75 million
- Shares in Estrella last traded for 0.8 cents each on July 28
Estrella Resources (ESR) has requested a trading halt pending an upcoming capital raising.
The halt will remain in place until August 3 or when the announcement is made, whichever occurs first.
Estrella last entered a trading halt in early July regarding a potential asset disposal. A few days later, the company opted to voluntarily suspend its shares from quotation.
On July 13, Estrella announced it had reached commercial terms to dispose of its interest in the Munda Gold Project in Western Australia.
The company’s subsidiary, WA Nickel, entered a binding letter of offer with Auric Mining’s subsidiary, Widgie Gold, to dispose of the Munda Project for $1.75 million.
This $1.75 million consists of a $10,000 non-refundable cash deposit, which Estrella has already received, $1.09 million in cash upon settlement, $350,000 cash when the project reaches 75,000 ounces of gold mined, and $350,000 cash when the project reaches 100,000 ounces of gold mined.
Shares in Estrella last traded for 0.8 cents each on July 28.