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- Latitude Consolidated (LCD) has been placed in a trading halt with regards to a capital raising and material transaction
- The company believes that it will remain in the halt until December 21 or when an announcement is released to the market, whichever occurs first
- In November, Latitude signed a Native Title Mining and Land Access Agreement for its Skye Gold Project in South Australia
- The agreement allows the company to begin its planned exploration programs at the project which consist of aircore and rotary airblast drilling
- The aim of this drilling is to define new and existing bedrock mineralisation within the project area
- Shares in Latitude last traded at 2.5 cents on December 15
Latitude Consolidated (LCD) has been placed in a trading halt with regards to a capital raising and material transaction.
The company believes that it will remain in the halt until December 21 or when an announcement is released to the market, whichever occurs first.
Latitude is yet to disclose how much it is aiming to raise and what it will use the funds for once received. No details have been provided about the acquisition either.
In November, Latitude signed a Native Title Mining and Land Access Agreement with Antakirinja Matu-Yankunytjatjara Aboriginal Corporation (AMYAC) for its Skye Gold Project.
The Skye Project lies in the Gawler Craton in South Australia, around 700 kilometres northwest of Adelaide.
This agreement allows Latitude to begin its planned exploration programs at the project with work consisting of aircore and rotary airblast (RAB) drilling.
Drilling will aim to define new and existing bedrock mineralisation within the project area.
“We are very pleased to have secured the support of our key landholders in South Australia and we now set our sights towards rolling out our exploration plans for the Skye Gold Project,” Chairman Tim Moore said at the time.
“Our team has been working hard behind the scenes to finalise our initial drilling program for the Skye Gold Project and we are currently in the process of securing the drilling contractor to undertake this body of work,” he added.
Shares in Latitude last traded at 2.5 cents on December 15.
