- Galena Mining (G1A) has entered a trading halt, pending the release of a capital raising announcement
- The company will remain in the halt until the commencement of trading on July 9, unless the announcement is released earlier
- In mid-May, Galena acquired the Higginsville Gold Operations Pastefill Plant (HPP) from Westgold Resources for roughly $2.25 million in Galena shares
- This plant will be refurbished and reinstalled at the company’s Abra Base Metals Project to provide the pastefill cement needed for underground operations
- A month-and-a-half later, it announced it had identified new gold and base metal targets at Abra
- Shares in Galena last traded for 24 cents each on July 6
Galena Mining (G1A) has entered a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until the commencement of trading on July 9, unless the announcement is released earlier.
In mid-May, Galena acquired the Higginsville Gold Operations Pastefill Plant (HPP) from Westgold Resources for 11.6 million Galena shares, valued at roughly $2.25 million.
This plant will be refurbished and reinstalled at the company’s Abra Base Metals Project in Western Australia to provide the pastefill cement needed for underground operations.
A month-and-a-half later, at the end of June, Galena announced it had identified new gold and base metal targets at Abra.
Since acquiring the project in 2016, Galena has drilled a total of 78,380 metres at Abra and has intersected results such as 2.25 metres at 10.29g/t gold and 2.14 per cent copper from 649.83 metres.
Shares in Galena last traded for 24 cents each on July 6.