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Alice Queen Ltd

Alice Queen chatting with underwriter

The halt will remain in place until Thursday 26th August 2017.

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Converted options would boost cash reserves

Alice Queen Ltd (ASX:AQX) has 119 million $0.03 options expiring on the 30th September 2017 (ASX:AQXO), which are currently in-the-money based on the last traded price of $0.049.

The company is currently reviewing a proposed underwriting of the listed options, and if fully converted, would provide circa $3.6 million in cash.

Alice Queen recently wrapped up a Phase One resource definition drilling program at the Horn Island gold project in Queensland.

The halt will remain in place until the opening of trade on Thursday 26th August 2017, or earlier if an announcement is made to the market.

Quick facts: Alice Queen Ltd

Price: $0.01

Market: ASX
Market Cap: $10.13 m
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