A1 Consolidated Gold (ASX:AYC) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.
During the September 2015 quarter the company executed a Binding Term Sheet for the purchase of MIN5487 at Walhalla, a historical gold mine close to its existing operations.
Walhalla inferred resources include: Tubal Cain: 932,000 tonnes at 4.10g/t gold for 122,900 gold ounces; and Eureka: 153,000 tonnes at 9.90g/t gold for 49,200 gold ounces.
Consideration is $850,000 in staged payments.
The halt will remain in place until the opening of trade on Monday 16th November 2015, or earlier if an announcement is made to the market.
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