- Krakatoa Resources (KTA) has entered a trading halt ahead of a capital raising announcement
- This follows yesterday’s announcement regarding an application for a 580 square kilometre area in the Central Lachlan Fold Belt in New South Wales
- The last capital raise was a $1.3 million placement, which was completed on February 5
- Krakatoa is set on securing value-accretive assets that have significant copper and gold potential
- Company shares last traded for 10 cents each on July 6
Krakatoa Resources (KTA) has entered a trading halt ahead of a capital raising announcement.
Just yesterday, the copper-gold miner announced it has applied for a 580 square kilometre acreage within the highly prospective Central Lachlan Fold Belt in New South Wales.
The four exploration licences covering the acreage make up the Rand Project. Rand has proven to be prospective for multi-million-ounce mineralisation styles such as shear-hosted and intrusion-related gold systems like De Grey Mining’s Mallina Gold Project.
Importantly, the project captures the Bulgandra Goldfield, which includes a number of mines that historically produced gold grading up to 265g/t or 8.53 ounces per ton.
Krakatoa is set on securing value-accretive assets that have significant copper and gold potential.
Krakatoa’s last capital raise was a $1.3 million placement, which was completed on February 5.
Company shares last traded for 10 cents each on July 6.