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St George Mining in trading halt ahead of capital raising announcement

The company’s securities will be placed in trading halt until the beginning of trade on Thursday June 20 or when an announcement is made.

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Planning for phase-two of the 2019 drill program at Mt Alexander is being finalised

St George Mining Limited (ASX:SGQ) has news pending of a proposed capital raising and has been granted a trading halt by the ASX.

The trading halt will be in place until the beginning of trade on Thursday, June 20, or when an announcement is made to the market, whichever occurs earliest.

St George securities last traded at 11.5 cents.

READ: St George Mining intersects thick high-grade nickel-copper-cobalt-PGE mineralisation at Mt Alexander

Earlier this week the company obtained thick high-grade nickel-copper-cobalt-platinum group element (PGE) sulphide mineralisation in its phase-one drilling program at the Mt Alexander project in WA.

Best intersections were drilled at the Investigators prospect with results establishing further continuity of high-grade mineralisation both in the northerly down-dip direction and along the east-west trend of the Cathedrals belt.

READ: St George Mining identifies high priority nickel-copper targets at Mt Alexander ahead of drilling

St George also identified several new high-priority nickel-copper sulphide targets at the project as well as a large conductive feature with an interpreted strike of 300 metres.

The discovery was reportedly at the intersection of the Ida Fault and the Cathedrals Belt – an area which remains largely undrilled and is referred to as the West End prospect.

Quick facts: St George Mining Ltd

Price: 0.125 AUD

ASX:SGQ
Market: ASX
Market Cap: $51.58 m
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