- QX Resources (QXR) has placed its shares in a trading halt in regards to an upcoming capital raising
- The company will remain in the halt until May 13 or when more details regarding the raise are released, whichever occurs first
- Earlier in the month, QXR completed a 1500-metre reverse circulation drilling program at its Lucky Break gold mine in Queensland
- This drilling program was designed to assess mineralisation at the Lucky Break Mine and the Lucky Break South pit
- Samples have been sent to ALS Townsville for multi-element analysis and results are expected in four to six weeks
- Shares in QXR last traded at 1.7 cents on May 10
QX Resources (QXR) has placed its shares in a trading halt regarding an upcoming capital raising.
The company will remain in the halt until May 13 or when more details regarding the raise are released, whichever occurs first.
QXR is yet to disclose how much it intends to raise or what it will use the funds for once received.
Earlier in the month, QXR completed a 1500-metre reverse circulation drilling program at its Lucky Break gold mine in Queensland.
This drilling program was designed to assess mineralisation at the Lucky Break Mine and the Lucky Break South pit.
Samples have been sent to ALS Townsville for multi-element analysis and results are expected in four to six weeks.
QXR is now assessing further exploration opportunities at Lucky Break and potential areas prospective for gold mineralisation.
Shares in QXR last traded at 1.7 cents on May 10. The company has a $9.074 million market cap.