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Southern Gold in trading halt ahead of capital raising

Southern Gold owns a portfolio of high-grade gold projects in South Korea prospective for epithermal gold-silver deposits.

Southern Gold Limited - Southern Gold in trading halt ahead of capital raising
Shares in the company last traded at 12.5 cents

Southern Gold Limited (ASX:SAU) has been granted a trading halt by the ASX pending the release of information 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 23 March 2020.

Drilling underway

Earlier this week, Southern Gold revealed that it is continuing to advance drilling at the Beopseongpo Project in South Korea, with the Hand of Faith target being the primary focus.

Furthermore, first-pass field reconnaissance has identified a new project area called Geum-Mar, which means ‘Golden Horse’ in Korean.

Assays from drilling are expected around mid-April and assays from sampling work are expected in 2-3 weeks.

Quick facts: Southern Gold Limited

Price: 0.125 AUD

ASX:SAU
Market: ASX
Market Cap: $16.04 m
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Southern Gold awaiting assays from recent drilling at its Beopseongpo...

Southern Gold Ltd's (ASX:SAU) Simon Mitchell tells Proactive's Andrew Scott they've completed drilling at the Beopseongpo project and have new programs underway at the Deokon and Aphae projects. Mitchell says assays are expected from the Hand of Faith drill hole within the wider Beopseongpo...

on 27/5/20

2 min read