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- Peregrine Gold (PGD) ends the week in a trading halt pending an announcement regarding a capital raising and board changes
- The company will remain in the halt until February 15 or when an announcement is made, whichever occurs first
- On February 3, Peregrine announced it had identified significant gold in soil anomalism at its Rocklea Project, 65 kilometres northwest from Paraburdoo in Western Australia
- Up to 24.97 parts per million gold was intersected and further sampling is required to define the gold anomalism
- Shares in Peregrine last traded at 57 cents on February 10
Peregrine Gold (PGD) has ended the week in a trading halt pending an announcement regarding a capital raising and board changes.
The company will remain in the halt until February 15 or when an announcement is made, whichever occurs first.
Peregrine is yet to disclose how much it intends to raise or what the board changes will be.
On February 3, Peregrine announced it had identified significant gold in soil anomalism at its Rocklea Project, 65 kilometres northwest from Paraburdoo in Western Australia.
Up to 24.97 parts per million (ppm) gold was intersected from a soil sampling program undertaken to follow up on historical stream sediment sampling.
Peregrine said further sediment stream sampling is required to define the gold anomalism.
In its December quarterly report, Peregrine revealed it had burnt through $756,000 with the majority going towards exploration and evaluation. The company also invested $3000 in property, plant and equipment.
As of December 31, Peregrine had more than $3.25 million in total available funding, representing 4.3 quarters of use if spending levels remain the same.
Shares in Peregrine last traded at 57 cents on February 10. The company has a $23.99 million market cap.
