In its application for the halt, the company said it was "for the purposes of considering a capital raising and making an announcement in relation to the proposed capital raising".
The halt will remain in place until the start of trading on Wednesday, August 12, or when an announcement is released to the market, whichever occurs earliest.
Side Well option
In July the company decided to take up an option on the Side Well Gold Project, a high-grade project near Meekatharra in Western Australia.
The project is adjacent to Westgold Resources Ltd’s (ASX:WGX) Murchison Gold Operations and south of the Andy Well Gold Mine.
This richly endowed area has produced nearly four million ounces of gold, with over 2.7 million ounces remaining in current resources.