- Gladiator Resources (GLA) enters a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until January 17 or when an announcement is made to the market, whichever occurs first
- On December 14, Gladiator began its maiden drilling program at the Minjingu Uranium Project in Northern Tanzania
- Around 1000 metres of reverse circulation drilling will be undertaken to evaluate historical intercepts
- Shares in Gladiator last traded at 3.4 cents on January 12
Gladiator Resources (GLA) has entered a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until January 17 or when an announcement is made to the market, whichever occurs first.
Gladiator is yet to disclose how much it intends to raise or what it will use the funds for once received.
On December 14, Gladiator began its maiden drilling program at the Minjingu Uranium Project in Northern Tanzania.
Around 1000 metres of reverse circulation (RC) drilling will be undertaken to evaluate historical intercepts.
Between May and June 2007, Montero Mining and Exploration drilled 25 hand auger holes and then a further 18 short percussion holes from June to July 2007.
While encouraging uranium mineralisation was encountered, there was no follow-up drilling undertaken.
Simultaneously, Gladiator completed 174 kilometres of the 800 kilometre ground radiometric survey. Updates will continue to be made as work progresses.
Shares in Gladiator last traded at 3.4 cents on January 12. The company has a $15.84 million market cap.