logo-loader
viewSt George Mining Ltd

St George Mining in trading halt ahead of capital raising news

The trading halt will remain in place until Thursday, October 24, or when an announcement is released to the market.

St George Mining Ltd - St George Mining in trading halt ahead of capital raising news
Mt Alexander diamond drilling is continuing on a 24/7 schedule

St George Mining Ltd (ASX:SGQ) has been granted a trading halt by the ASX with a capital raising announcement pending.

The trading halt will remain in place until the beginning of trade on Thursday, October 24, or when an announcement is made to market, whichever occurs earliest.

Shares last traded at 18 cents after reaching a new 12-month high of 25.5 cents in early September.

Mt Alexander drilling

On October 21 the company received drilling results from two significant holes at the Investigators and Stricklands prospects within the Mt Alexander project in Western Australia.

Hole MAD166 at Investigators was a 100-metre step-out hole and intersected thick nickel-copper-sulphides along strike.

This ‘significantly’ increased the strike of high-grade mineralisation at Investigators East, which still remains open in the north-northwest down-dip direction.

Speculative buy recommendation

Earlier this month St George also discovered significant nickel-copper-sulphide mineralisation at the Radar prospect within Mt Alexander.

The company reported a stand-out intersection from the first drilled hole, with 6 metres grading 2.14% nickel, 0.74% copper and 1.62 g/t platinum group elements (PGEs) from 46 metres.

Argonaut Securities maintained a Speculative Buy recommendation for the company in its latest research update.

Quick facts: St George Mining Ltd

Price: 0.15 AUD

ASX:SGQ
Market: ASX
Market Cap: $61.89 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of St George Mining Ltd named herein, including the promotion by the Company of St George Mining Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Moho Resources gains exposure to St George Mining and its high-grade...

Moho Resources (ASX:MOH) commercial director Ralph Winter updates Proactive Investors on the company's $500,000 investment in St George Mining Limited (ASX:SGQ). St George’s focus is on exploring the Mt Alexander nickel-copper sulphide project in WA. Winter said participating in St...

on 24/7/19

2 min read