Exterra Resources (ASX:EXC) has been granted an ASX trading halt in relation to a material transaction regarding joint development of the Second Fortune Gold Mine at its Linden Gold project in Western Australia’s Norseman-Wiluna belt.
The halt will last until the earlier of the announcement being made or the start of trade on Tuesday, 29th September 2015.
In its June Quarterly report, the company said it was in ongoing discussions with a number of groups with respect to the Linden project and the Second Fortune mine development.
In 2014, it released a Pre-Feasibility Study on an underground mine development at Second Fortune at Linden which returned estimated revenue of $80 million over an initial 2.5 years with free cash of $17.3 million at A$1400 per ounce.
Economics could improve further given that spot gold is currently trading over the A$1,600 per ounce mark.
Exterra Resources (ASX:EXC) has been granted an ASX trading halt...
Add to My Watchlist
What is My Watchlist?