- Marmota (MEU) has entered two consecutive back-to-back trading halts ahead of a proposed capital raising
- The trading halts will last for two days each, meaning the company will recommence trading by Wednesday, July 15
- In June, the company announced it would recommence a reverse circulation (RC) drilling program at its Aurora Tank gold discovery in South Australia
- This is the company’s largest-ever RC drilling program
- Company shares last traded on July 8 for 6.3 cents each
Marmota (MEU) has entered two consecutive back-to-back trading halts ahead of a proposed capital raising.
The trading halts will last for two days each, meaning the company will recommence trading by Wednesday, July 15.
Last month, Marmota announced it would recommence reverse circulation (RC) drilling at the Aurora Tank gold would in South Australia. This is the company’s largest-ever RC drilling program.
The drilling program will include 85 holes at an average depth of 88 metres for a total of 7500 metres. The drilling will target extensions to the north, northeast and to the east of the Aurora Tank mineralised zone.
Recently, the company was awarded a $225,000 grant from the South Australian Government under the Accelerated Discovery Initiative (ADI). The ADI encourages innovation in the exploration sector.
The funding from the ADI will go towards Marmota’s biogeochemical (tree sampling) exploration program.
Company shares last traded on July 8 for 6.3 cents each.