Alice Queen Ltd (ASX:AQX) has been granted consecutive trading halts by the ASX with an announcement pending in regard to a capital raising.
The consecutive trading halts are necessary to assist the company in managing its continuous disclosure obligations.
These trading halts will remain in place until the beginning of regular trading on Wednesday, August 26, or when an announcement is released to the market, whichever occurs earliest.
AQX shares last traded at 4.9 cents and have been increasing steadily since closing at 1.3 cents on March 27 supported by a strong gold market and encouraging results from its gold projects.
Boda East project drilling
Alice Queen plans to extend its ongoing drilling program at Boda East Project in the Northern Molong section of the NSW Lachlan Fold Belt.
This comes after the maiden hole confirmed that the rocks that host the nearby Boda discovery of Alkane Resources Limited (ASX:ALK) (OTCMKTS:ALKEF) extend into its tenements.
Visual observations of core from the completed first hole confirm that the Ordovician rocks present in the Boda discovery hole are present at Boda East
Alice Queen found visible disseminated sulphides in a zone from 415 metres to 451 metres, including visual chalcopyrite from 423 metres to 438 metres at Boda East Target Area A.
This target area is about 1.6 kilometres northeast of Alkane’s Boda project which has attracted strong attention to the Northern Molong Volcanic Belt.