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- Latitude Consolidated (LCD) has begun the week in a trading halt while it inks out the details of an upcoming capital raising
- The company will remain in the halt until May 26 or when more details are released, whichever occurs first
- In mid-May, Latitude revealed it had increased the total mineral resource for its Murchison Gold Project by 44 per cent to 13.1 million tonnes at 2.6g/t gold
- Pleasingly, this followed a 125 per cent increase to the mineral resource at the Turnberry Deposit which now reads 11.3 million tonnes at 1.7g/t gold
- Shares in Latitude last traded at 7.4 cents on May 21
Latitude Consolidated (LCD) has begun the week in a trading halt while it finalises the details of an upcoming capital raising.
The company will remain in the halt until May 26 or when more details are released, whichever occurs first.
Latitude is yet to disclose how much it intends to raise or what it will use the funds for once received.
In mid-May, Latitude revealed it had increased the total mineral resource for its Murchison Gold Project by 44 per cent.
Calculated from both reverse circulation and diamond drilling, the resource now reads 13.1 million tonnes at 2.6g/t gold.
Pleasingly, this followed a 125 per cent increase to the mineral resource at the Turnberry Deposit which now reads 11.3 million tonnes at 1.7g/t gold.
According to CEO Tim Davidson, Latitude is aiming to grow the existing resource base through ongoing systematic drilling.
Shares in Latitude last traded at 7.4 cents on May 21. The company has a $58.23 million market cap.
