- Gladiator Resources (GLA) is gearing up to announce a capital raise after placing its shares in a trading halt
- The company hasn’t revealed how it’ll raise the cash, but it did reveal the trading halt will only last until August 18 at the latest
- Recently, Gladiator wrapped up a drilling program at its Marymia gold project after it was delayed
- It also ended the June quarter with $212,000 worth of cash in the bank, after burning through $78,000
- Shares in Gladiator last traded for 0.2 cents each on August 13
Gladiator Resources (GLA) has placed its shares in a trading halt as it gears up to announce a new capital raise.
The company hasn’t revealed details on how it’ll raise the money, but it did state the trading halt would only last until August 18.
More recently, Gladiator has been focused on its Marymia Gold Project in WA — where it recently finished an initial drilling program after it was delayed.
The program consisted of 31 aircore holes, for a total 1922 metres drilled across the site.
The results from that program are expected to be received in the next month.
Meantime, Gladiator ended the June quarter with $212,000 worth of cash in the bank, after spending $78,000 on operating costs.
The company estimated that was enough cash to keep it running for another three quarters if its spending levels remained the same.
Shares in Gladiator last traded for 0.2 cents each, on August 13.