- Mining company Oakdale Resources (OAR) has entered a trading halt amid a capital raise
- Company shares will be paused until Thursday, September 10, or until the company releases more information about the raise
- At this stage, it is unclear how much the company is aiming to raise and what the funds will be used for
- However, Oakdale expects to release a drilling update for its Nevada-based projects alongside the capital raise
- Last week, the company said it expects a diamond drilling program to commence this week at its Lambarson Canyon Gold Project in Nevada
- Oakdale last traded for 2.5 cents per share on September 7
Mining company Oakdale Resources (OAR) has entered a trading halt amid a capital raise.
Company shares will be paused until Thursday, September 10, or until the company releases more information about the raise.
At this stage, it is unclear how much the company is aiming to raise and what the funds will be used for. However, Oakdale expects to release a drilling update for its Nevada-based projects alongside the capital raise.
Last week, the company said it expects a diamond drilling program to commence this week at its Lambarson Canyon Gold Project in Nevada.
The program will cover five drillholes and test gold targets where high-grade outcropping gold mineralisation was previously identified by the field team.
Once completed, the rig will move to the Douglas Canyon Project to test further gold targets.
Oakdale only recently purchased the Nevada projects back in late August, when it also appointed geologist Tony Greenaway as its General Manager of Geology.
Oakdale last traded for 2.5 cents per share on September 7.