- Yesterday, Nex Metals Exploration (NME) entered a trading halt pending the release of a capital raise announcement
- This marks the miner’s second trading halt in less than one week with the first preceding significant gold results from drilling at the Kookynie Gold Project
- Nex Metals and Metalicity are both committed to expediting and building value for the Kookynie and Yundamindra gold projects
- Nex Metals remains in its trading halt and shares last traded for 12.5 cents each
Yesterday, Nex Metals Exploration (NME) entered a trading halt pending the release of a capital raise announcement.
This marks the miner’s second trading halt in less than one week after entering one last Wednesday before releasing assay results for the Kookynie Gold Project in the Eastern Goldfields of Western Australia.
The Kookynie Gold Project is a farm-in project held with Metalicity (MCT). The companies initially entered a farm-in agreement in May 2019.
Out of the first 11 holes drilled at the Kookynie Gold Project, 10 of them returned significant gold intercepts with grades of up to 20.7g/t gold.
While the reason for the capital raise has not been explicitly stated, Nex Metals and Metalicity have shared their commitments to building value for shareholders and expediting the Kookynie and Yundamindra gold projects.
Nex Metals remains in a trading halt imposed since Monday and shares last traded for 12.5 cents each.