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Twenty Seven Co in back-to-back trading halt with capital raising news upcoming

As part of the company’s recent due diligence, it has investigated historical drilling results at Mt Dimer which will become priority targets for future drill testing.

Twenty Seven Co Ltd - Twenty Seven Co in trading halt regarding capital raising news
Due diligence is expected to be completed in the near-term

Twenty Seven Co Ltd (ASX:TSC) has been granted a back-to-back trading halt by the ASX with a capital raising announcement pending.

The halt will remain in place until the beginning of regular trading on Thursday, October 8, 2020, or when an announcement is released to the market, whichever occurs earliest.

Due diligence reveals gold potential

Twenty Seven Co revealed on September 30 several areas worthy of follow-up exploration during its due diligence work on potential new projects in WA's Goldfields with the Mt Dimer Gold Project proving particularly encouraging.

The company is progressing with due diligence following the signing of a Binding Term Sheet which provides an exclusive 60-day option period to acquire Oz Gold Group Pty Ltd.

Oz Gold holds the rights over Mt Dimer and the newly named Yarbu Gold Project in the WA Goldfields as well as Trident Gold-Copper Project in NSW - all of which are in well-established mining districts, close to critical supportive infrastructure and readily apparent routes to key ports.

TSC has identified several areas for follow-up exploration at Mt Dimer and Yarbu.

Quick facts: Twenty Seven Co Ltd

Price: 0.007 AUD

ASX:TSC
Market: ASX
Market Cap: $11.96 m
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