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Alice Queen shares in trading halt ahead of capital raising

A major porphyry discovery was recently made nearby to Alice Queen’s Yarindury and Mendooran projects by Alkane Resources.

Alice Queen Ltd - Alice Queen shares in trading halt ahead of capital raising
AQX’s technical advisor John Holliday co-discovered Cadia Valley

Alice Queen Ltd (ASX:AQX) has been granted a trading halt by the ASX pending the release of details regarding a capital raising.

Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trading on Tuesday 24 September 2019.

Prior to the halt Alice Queen almost 64% higher to a new 12-month high of 3.1 cents.

The trading halt and proposed capital raising follow comments from AQX’s technical advisor John Holliday yesterday saying: “Alkane has just made the best porphyry exploration discovery in the Lachlan Fold Belt, away from the 3 main mine centres (Cadia, Cowal and North Parkes), in the last 20 or so years.

“This has clearly further enhanced the prospectivity of the Yarindury and Mendooran tenements, which cover the same belt of rocks in areas where they have hardly been explored because of younger cover."

North Molong Belt Projects

The North Molong Belt Projects cover 663 square kilometres and comprise Yarindury EL8646, Mendooran EL’s 8565, 8469 and 8563.

The projects are along trend from Newcrest Mining Ltd (ASX:NCM) Cadia Valley 42-million ounce gold mine and adjacent to Alkane’s recent discovery hole at Boda.

Quick facts: Alice Queen Ltd

Price: 0.048 AUD

ASX:AQX
Market: ASX
Market Cap: $37.77 m
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