- Golden Mile Resources (G88) has entered a trading halt regarding a proposed acquisition and associated capital raise
- The materials stock has disclosed the acquisition is of a project, but no further details have been revealed
- Golden Mile announced last week it identified a new copper and zinc target within its Yarrambee base metals project and plans to follow-up on this with further exploration
- Shares are expected to resume trade on Thursday, March 17 and details of the raise and acquisition are likely to be announced by then
- G88 shares last traded at 6.3 cents on Monday, March 14
Golden Mile Resources (G88) has entered a trading halt regarding a proposed acquisition and associated capital raise.
At this stage, the materials stock hasn’t said what it will be acquiring, but it did disclose the acquisition is of a project.
Similarly, there aren’t any details on how much money will be raised or whether the funds will support the acquisition costs or exploration.
Most recently, Golden Mile announced it found a new copper and zinc sulphide target at the TBW prospect which is part of the Yarrambee base metals project in Western Australia’s Murchison region.
The discovery was made via reverse circulation drilling which yielded results of two metres at 2.29 per cent copper from 57 metres and five metres at 6433 parts per million zinc from 120 metres.
Golden Mile said it had plans to conduct follow-up drilling and associated field work at the project.
The company expects to come out of the trading halt on Thursday, March 17, by which time the acquisition and capital raise details would have likely been revealed.
G88 shares last traded at 6.3 cents on Monday, March 14.