Red Gum Resources (ASX:RGX) is heading down the path towards a...

Red Gum Resources (ASX:RGX) is heading down the path towards a capital raising, with the company also preparing to outline an acquisition.

The ASX has granted the company a trading halt to prepare.

At the end of June 2015 the company held $1.2 million in cash, with directors conducting a strategic review of the company’s Chilean interests.

The halt will remain in place until the opening of trade on Monday 3rd August 2015, or earlier if an announcement is made to the market.