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Alice Queen granted trading halt with capital raising announcement pending

The halt will remain in place until Monday, May 17, or when the announcement is released to the market.

Alice Queen Ltd - Alice Queen granted trading halt with capital raising announcement pending
The company recently received positive results from bulk ore sorter test work at its Horn Island Gold Project

Alice Queen Ltd (ASX:AQX) has been granted a trading halt by ASX ahead of an announcement regarding a proposed capital raising.

The halt will remain in place until the beginning of regular trade on Monday, May 17, or when an announcement is released to the market, whichever occurs earliest.

Horn Island bulk ore sorter tests

The company recently received positive results from bulk ore sorter test-work at its Horn Island Project, Torres Strait, Far North Queensland.

Alice Queen commissioned Tomra Ore Sorter Solutions Pty Ltd to assess the amenability of two bulk Horn Island samples to Tomra’s XRT ore sorting technology.

Diamond core totalling around 2 tonnes from the inferred resource area of 7.9 million tonnes at 1.9 g/t gold for 492,000 ounces was assessed along with a separate sample collected from legacy low-grade stockpiles from mining operations in the 1980s.

Results of the Tomra Ore sorter test-work demonstrated the suitability of this low-cost, low-energy processing solution.

High-volume feed rates of 48 tonnes per hour (tph) and 79 tph were applied with high gold recoveries of 94% and 93% respectively.

Quick facts: Alice Queen Ltd

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Market Cap: $13.7 m

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Alice Queen's Andy Buxton says results from ore sorter test work are 'off...

Alice Queen Ltd's (ASX:AQX) Andy Buxton tells Proactive's Andrew Scott the results of the Tomra Ore sorter test work which was done on two different samples (Horn Island drill core and historic 1980’s mine waste dump material) has demonstrated the suitability of this low cost, low energy...

on 29/4/21

2 min read