- Siren Gold (SNG) enters into a trading halt ahead of a capital raise
- So far, there is no detail on how much the company is aiming to raise or where it plans to spend the money
- The halt means company shares will be paused until Friday, July 29, or when further information has been released to the market
- Shares in Siren Gold traded at 28 cents prior to the trading halt
Siren Gold (SNG) has entered into a trading halt ahead of a capital raise.
So far, there is no detail on how much the company is aiming to raise or where it plans to spend the money.
The halt means company shares will be paused until Friday, July 29, or when further information has been released to the market.
Siren Gold is a gold exploration company that is focused on the high grade Reefton Goldfield in New Zealand, consisting of five key projects – Alexander River, Big River, Reefton South, Lyell and Sam’s Creek.
Just last week, the company had expanded its exploration strategy at its New Zealand projects which will focus on drilling at the Alexander River, Big River and Sams Creek gold projects over the next 12 months.
The company is planning to grow its exploration targets with reconnaissance exploration to continue at St George, Lyell and Doyles.
Initial testwork at Alexander and Big River show that a gold recovery of around 90-92 per cent could be achieved by flotation, pressure oxidation and cyanide leaching with up to 30 per cent gravity gold recoverable from Alexander River samples.
Shares in Siren Gold traded at 28 cents prior to the trading halt.