- Resources & Energy (REZ) places its shares in a trading halt while it plans the details of an upcoming capital raising
- The company’s shares will remain in the halt until the earlier of November 1 or when more details are released
- Just yesterday, REZ said its first gold pour took place at the Lakewood Gold Mine on October 26
- A 22.84-kilogram gold dore was produced, consisting of 7.96 kilograms from the Gravity Circuit and 14.88 kilograms from the CIL Circuit
- Shares in REZ last traded at 4.7 cents on October 27
Resources & Energy (REZ) has placed its shares in a trading halt while it plans the details of an upcoming capital raising.
The company’s shares will remain in the halt until the earlier of November 1 or when more details are released.
REZ is yet to disclose how much it intends to raise or what it will use the money for.
Just yesterday, the company revealed its first gold pour took place at the Lakewood Gold Mine on October 26.
The Lakewood Gold Mine is part of the East Menzies Gold Project, which lies 130 kilometres north of Kalgoorlie in Western Australia.
A 22.84-kilogram dore gold bar was produced, consisting of 7.96 kilograms from the Gravity Circuit and 14.88 kilograms from the CIL Circuit.
Samples of production have been taken and the gold dore is now on route to the Perth Gold Mint to determine assays for out-turn certification.
Since toll campaign one began, roughly 17,000 tonnes has been produced to date with an unreconciled weighted head grade of 2.59 grams per tonne (g/t) of gold.
Director Richard Poole was excited by the development.
“The company is delighted to report this outcome. It represents a pivotal moment in the company’s growth as it transitions from exploration to production,” Director Richard Poole said.
“I would like to thank our mining partners at BM Mining who have done an amazing job at managing Mining Operations at Granny Venn and enabling this outcome to be achieved.”
Shares in REZ last traded at 4.7 cents on October 27. The company has a $20.28 million market cap.