News: A1 Consolidated Gold granted halt

A1 Consolidated Gold (ASX:AYC) has been granted a trading halt by the ASX pending details of capital raising discussions the company is having.

AYC's shares have been placed in pre-open.

Recently mining consultants completed a Scoping Study for Stage 1 of the AYC's wholly-owned A1 Gold Mine in north-eastern Victoria.

Highlights included:

- Production Target: 378,000 tonnes @ 6.52 g/t Au
- All in Sustaining Cost: AUD $860 per oz Au
- Stage 1 Mine Life: 3 Years
- Projected Pre-tax Net Cash: AUD $30.7 million
- Mining Rate: 150,000 tpa
- Contained Gold: 30,000 oz pa
- Mill Recovery: 80%
- Gold Price: AUD $1300
- Pre-production Capex AUD $2.9 million
- NPV: AUD $23.2 million
- IRR: 62%

The halt will remain in place until the opening of trade on Wednesday 17th September 2014, or earlier if an announcement is made to the market.