News: Renaissance Minerals to reveal material capital raising

Renaissance Minerals (ASX:RNS) is heading to market with a material capital raising. The ASX has granted the company a trading halt.

Renaissance Minerals is focussed on gold exploration in Cambodia, and has already made a significant discovery at the wholly-owned Okvau deposit.

The deposit hosts a JORC Resources of 15.6 million tonnes at 2.4g/t gold for 1.2 million ounces.

Mineralisation is from surface and mineable via a single open pit, with the potential for a low strip ratio enhancing project economics.

Okvau remains ‘open’ at depth and along strike.

The halt will remain in place until the opening of trade on Wednesday 30th July 2014, or earlier if an announcement is made to the market.