viewBardoc Gold Ltd

Bardoc Gold in trading halt with capital raising announcement pending

The halt will remain in place until the start of trading on Friday, September 20, 2019, or when an announcement is released to the market.

Bardoc Gold Ltd - Bardoc Gold in trading halt with capital raising announcement pending
This halt will allow the company time to finalise documentation

Bardoc Gold Ltd (ASX:BDC) has been granted a trading halt by the ASX as it finalises documentation regarding a capital raising.

The company says this will allow sufficient time for it to finalise the documentation and prepare an announcement.

This halt will remain in place until the start of normal ASX trading on Friday, September 20, 2019, or when the announcement is released to the market, whichever occurs earliest.

Bardoc shares last traded at 11 cents after reaching a new 12-month high of 13 cents earlier this month.

Growth pipeline strengthened

The company recently executed an agreement to acquire the strategic Mayday and North Kanowna Star gold projects immediately east of its flagship 2.6-million-ounce Bardoc Gold Project.

This acquisition includes three mining licences, four prospecting licences and one miscellaneous licence covering a total area of 20 square kilometres in the North Kalgoorlie district.

The Mayday North Project is within easy trucking distance about 50 kilometres and the North Kanowna Star Project about 22 kilometres to the east of the Bardoc project.

111,600-ounce resource

The project areas include a combined JORC compliant indicated and inferred resource totalling 111,600 ounces, representing an important and low-cost strategic addition to Bardoc’s existing resource base in the district.

These tenements have had minimal modern exploration and offer numerous exploration opportunities and walk-up drill targets, including immediate extensions of the defined JORC resources.

The acquisition is consistent with Bardoc Gold’s strategy of establishing a sizeable gold resource base in the Kalgoorlie district though a combination of strategic exploration and M&A activity.

Quick facts: Bardoc Gold Ltd

Price: 0.072 AUD

Market: ASX
Market Cap: $124.63 m

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