Credo Resources (ASX: CRQ) has been granted a trading halt by the ASX pending the release of details surrounding a proposed capital raising, with the company's shares placed in pre-open.
Credo has not yet indicated where the potential capital injection will be allocated, but the company has recently been very active in Burkina Faso - and has had some initial exploration success.
Sampling is continuing, but earlier in the month the company announced that it had identified a gold-in-soil anomaly with a peak value of 654ppb gold. The anomaly appears to be extensive, and extends for over 1.2 kilometres in strike length at above 20ppb.
Credo said at the time that the anomaly appears to be open in a number of directions, with more results forecast for delivery in the short term.
The halt will last until the earlier of the announcement being made to the market, or the opening of trade on Thursday 1 March.