from MiningNews.
hopefully managerial comments can be taken at face value.
Resolute continues capital raising talks
Charlotte Dudley
Wednesday, 22 October 2008
TWO days on from entering a trading halt, Resolute Mining has voluntarily suspended its securities, as the company continues to reassess its proposed $A51 million capital raising announced earlier this month.
On October 9 Resolute announced a one-for-three renounceable rights issue designed to raise up to $51 million in development funds.
However, on Monday the company went into a trading halt saying it was taking a closer look at capital raising plans.
Resolute remains in lockdown mode this morning but said in a statement the company had “received good support for an alternative form of capital raising which it is evaluating”.
The company expects to lift the suspension on announcing the outcome of its capital reassessment.
The proposed funding was earmarked for redevelopment of Resolute’s Syama gold project in Mali, west Africa.
Before halting trade, shares in Resolute Mining were at 48c
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