- Kairos Minerals (KAI) has entered two consecutive trading halts to consider, plan and execute a capital raise
- The company will remain in the halts until September 25 or when an announcement is released, whichever occurs first
- On September 16, Kairos announced that it had discovered four new gold targets at its Kangan Project in Western Australia’s Pilbara Region
- The company will now be undertaking an aircore drilling program to test these targets
- Shares in Kairos last traded for 6.6 cents on September 18
Kairos Minerals (KAI) has entered two consecutive trading halts to consider, plan and execute a capital raise.
The company will remain in the halts until September 25 or when an announcement is released, whichever occurs first.
On September 16, Kairos announced that it had discovered four new gold targets at its Kangan Project in Western Australia’s Pilbara Region.
As a result of these discoveries, Kairos will now be undertaking an aircore (AC) drilling program to test these targets. Work is expected to begin sometime in the next quarter.
Kairos also informed shareholders that it has completed reverse circulation (RC) drilling at the Croydon Project.
Eight RC holes were drilled and results have been sent off and are expected by the end of the month.
Kairos last entered a trading halt in mid-May in regards to a $4.2 million capital raising.
These funds were raised through a $2.5 million share placement and a $1.7 million non-renounceable rights issue.
The company used the money to strengthen its balance sheet and progress exploration at its Pilbara Gold Project.
Shares in Kairos last traded for 6.6 cents on September 18.