De Grey Mining Limited (ASX:DEG) has been granted a trading halt by the ASX pending the release of a capital raising announcement.
The trading halt will remain in place until the beginning of normal trading on Wednesday, April 29, 2020, or when an announcement is released to the market, whichever occurs earliest.
De Grey has had a strong flow of recent news relating to gold exploration success leading to the share price increasing from 4.6 cents at close on February 3 to 40 cents on April 17, a new seven-year high.
Hemi gold discovery extensions
The company continues to grow the scale of its Hemi discovery at the Mallina Gold Project near Port Hedland, WA.
Mineralisation at the Brolga and Aquila zones was recently extended and it remains open with further drilling needed to establish the extent.
At the time technical director Andy Beckwith said: “The overall scale of Hemi continues to grow, with three large gold zones in Aquila, Brolga and the new Crow defined to date.
“Our immediate plans are to continue the 80 metres x 80 metres step out resource drilling at all three areas Brolga, Aquila and Crow with one RC and two diamond rigs active.”