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Great Southern Mining enters trading halt with capital raising news upcoming

The halt will remain in place until the earlier of an announcement to the market in relation to the capital raising or the start of trading on November 20, 2020.

Great Southern Mining Ltd - Great Southern Mining enters trading halt with proposed capital raising announcement pending
The company recently set a development pathway for gold operations at Mon Ami in Western Australia

Great Southern Mining Ltd (ASX:GSN) plans to release an announcement regarding a proposed capital raising and has been granted a trading halt by the ASX.

The company's securities will remain halted until the earlier of the start of normal trading on Friday, November 20, 2020, or when the announcement is released to the market.

Mon Ami development

Great Southern recently set a development pathway for gold operations at Mon Ami in Western Australia after completing an in-house preliminary economic evaluation of the potential for an open-pit development.

The progression towards development is expected to add significant underlying value to Mon Ami and the company’s gold strategy.

Development of the deposit offers a potential source of cash flow for ongoing funding of aggressive exploration plans across the gold portfolio - including Cox’s Find, at depth at Mon Ami and the Edinburgh Park Gold Project in North Queensland.

Quick facts: Great Southern Mining Ltd

Price: 0.081 AUD

ASX:GSN
Market: ASX
Market Cap: $36.85 m
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