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Twenty Seven Co in trading halt ahead of capital raising news

The company requested two consecutive ‘back to back’ trading halts of two days each for the purpose of considering, planning and executing the capital raising.

Twenty Seven Co Ltd - Twenty Seven Co in trading halt ahead of capital raising news
News is also pending of a proposed option to acquire a mining lease and three exploration tenements

Twenty Seven Co Ltd (ASX:TSC) has been granted a back-to-back trading halt pending the company releasing an announcement in regard to a capital raising.

As well as the capital raising, in its application to the ASX, TSC said the halt was sought "in relation to a proposed option to acquire a mining lease and two exploration tenements in the WA Goldfields, and one exploration licence in NSW.

The halt will remain in place halt until the earlier of the start of normal trading on Friday, September 11, 2020, or when an announcement is released to the market.

Anomaly extensions

TSC recently completed a comprehensive review of all assay results from recent auger drilling and soil sampling campaigns that confirmed large gold anomalism extensions at the Rover Project in Western Australia.

Significantly, the Harmonic prospect target area has been tripled to around 650 metres through the discovery in a geochemical campaign of a 1.77 g/t gold rock chip that is around 400 metres to the northwest of the nearest RC drill-holes.

The focus of geochemical campaigns included the Harmonic, Creasy 3, Red Bush and Mistletoe prospects, coupled with the Maynard Intrusion target, which are all along the 20-kilometre prospective gold strike on the Maynard Hills greenstone belt.

Quick facts: Twenty Seven Co Ltd

Price: 0.009 AUD

ASX:TSC
Market: ASX
Market Cap: $15.37 m
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