- Hillgrove Resources (HGO) 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 22 or when more details regarding the raise are released, whichever occurs first
- On September 1, Hillgrove announced it had intersected 166 metres of copper mineralisation at the Kanmantoo Copper Mine in South Australia
- Hole KTDD208 was the most prospective, returning an intercept of 166.3 metres at 0.9 per cent copper and 0.13g/t gold from 332 metres
- Shares in Hillgrove last traded at 5.9 cents on September 17
Hillgrove Resources (HGO) 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 22 or when more details regarding the raise are released, whichever occurs first.
Hillgrove is yet to disclose how much it intends to raise or what it will use the funds for once received.
On September 1, Hillgrove announced it had intersected 166 metres of copper mineralisation at the Kanmantoo Copper Mine in South Australia.
Hole KTDD208 was the most prospective, returning an intercept of 166.3 metres at 0.9 per cent copper and 0.13 grams of gold per tonne (g/t) from 332 metres.
This intersection is a confirmation and extension of the previously intersected zone of 170.65 metres at 1.01 per cent copper.
Furthermore, the results are continuing to expand the footprint of the copper-gold mineralisation.
Shares in Hillgrove last traded at 5.9 cents on September 17. The company has a $55.28 million market cap.