News: KBL Mining to raise funds through equity package

KBL Mining (ASX:KBL) has been granted an ASX trading halt in relation to the release of details for an equity funding package.

The halt will last until the earlier of the announcement being made or the start of trade on Monday, 20th July 2015.

Earlier this month, the company noted that its Pearse Gold Project in New South Wales is on track for first gold ore treatment in August this year.

Metallurgical testing had returned early flotation recoveries of 70 to 75% for both gold and silver.

Cyanide leaching of the flotation tailings takes overall gold and silver recoveries to well over 80% from this refractory gold ore.

Open cut development is on schedule for August sulphide ore delivery with the CIL plant on schedule for a November completion.