- OzAurum Resources (OZM) begins the week in a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until Wednesday, June 1 or when the announcement is released, whichever occurs first
- Prior to entering the trading halt, OzAurum announced it had drilled its second diamond hole at the newly discovered Demag Zone at the Mulgabbie North gold project in WA
- Core processing is underway and once completed the samples will be sent to the laboratory for assay
- Shares in OzAurum last traded at 19.5 cents on May 27
OzAurum Resources (OZM) has begun the week in a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until Wednesday, June 1 or when the announcement is released, whichever occurs first.
OzAurum is yet to disclose how much it intends to raise or what it will use the funds for once received.
Prior to entering the trading halt, OzAurum announced it had drilled its second diamond hole at the newly discovered Demag Zone at the Mulgabbie North gold project in WA.
Once core processing is completed, the samples will be sent to the laboratory for assay.
Planning is now underway for a third hole to be drilled at the Demag Zone with drilling set to begin in June.
This is the first time OzAurum has tapped investors for cash since it listed on the ASX in February 2021 following a $12 million initial public offering.
Shares in OzAurum last traded at 19.5 cents on May 27.