Excelsior Gold (ASX:EXG) has been granted an ASX trading halt in relation to a capital raising.
The halt will last until the earlier of the announcement being made or the start of trade on Monday, 30th March 2015.
Earlier this month, it executed lodged the Mining Proposal for approval by the Department of Mines and Petroleum to develop the Bardoc South and Bulletin South open pits near Kalgoorlie, Western Australia.
This followed the execution of the Bardoc South Ore Treatment Agreement with Norton Gold Fields (ASX:NGF) in February.
Under the agreement, Norton agrees to process up to 400,000 tonnes of ore from the satellite deposits located within the Bardoc South Tenement area at its Paddington Mill in the period up to the end of December 2015.
The Bardoc South Tenements form part of the southern portion of the Kalgoorlie North Gold
Project and were a divestment from the Paddington Operations in 2003.
Excelsior is targeting commencement of mining operations in June 2015 for delivery of first ore to the Paddington Mill for processing in July 2015.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.
Add to My Watchlist
What is My Watchlist?