- Golden Rim Resources (GMR) begins the week in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until September 15 or when more details regarding the raise are released, whichever occurs first
- In mid-August, Golden Rim announced it had received further results from its Kada Gold Project in Guinea
- These results were encouraging as significant gold mineralisation was intersected in seven of the eight holes, with grades peaking at 12.9 grams of gold per tonne (g/t)
- Shares in Golden Rim last traded at 0.7 cents on September 8
Golden Rim Resources (GMR) has begun the week in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until September 15 or when more details regarding the raise are released, whichever occurs first.
Golden Rim is yet to disclose how much it intends to raise or what it will use the funds for once received.
In mid-August, Golden Rim announced it had received further results from its Kada Gold Project in Guinea.
These results were encouraging to the company as significant gold mineralisation was intersected in seven of the eight holes and grades peaking at 12.9 grams of gold per tonne (g/t).
Further drilling has been planned for later this month or early October, with focus on gaps in this most recent program.
Golden Rim last tapped investors for cash in February 2021 when it undertook a $5 million placement.
The funds were raised through the issue of 555,555,556 fully-paid ordinary shares to institutional, professional and sophisticated investors at 0.9 cents.
Once received, Golden Rim used the money to fund exploration activities at its Kada Project with aims of establishing a maiden resource estimate.
Shares in Golden Rim last traded at 0.7 cents on September 8. The company has an $18.69 million market cap.