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A1 Consolidated Gold to increase cash position

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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.

 

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.

Quick facts: A1 Consolidated Gold

Price: - -

ASX:AYC
Market: ASX
Market Cap: -
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