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- Alicanto Minerals (AQI) has entered a trading halt pending an upcoming capital raise
- The company will remain the halt until November 20 or when the announcement is made, whichever occurs first
- On Monday, Alicanto revealed a maiden JORC 2012 inferred resource for its Arakaka Gold Project in Northwest Guyana, South America
- The resource now reads 500,000 ounces at 1.8g/t gold and was defined from a review of previous exploration at the Gnome and Purple Heart deposit
- Alicanto last tapped investors for cash in August when it undertook a $1.42 million private placement to take on exploration activities in Sweden and Guyana
- In addition, the company stated it would issue up to 27 million unquoted options to management, consultants and advisors
- The options will be exercisable at 10 cents and will expire in five years from the date of granting
- Shares in Alicanto last traded for 14.5 cents on November 17
Alicanto Minerals (AQI) has entered a trading halt pending an upcoming capital raise.
The company will remain the halt until November 20 or when the announcement is made, whichever occurs first.
On Monday, Alicanto revealed a maiden JORC 2012 inferred resource for its Arakaka Gold Project in Northwest Guyana, South America.
The resource now reads 500,000 ounces at 1.8g/t gold and was defined from a review of previous exploration at the Gnome and Purple Heart deposits.
It reaches a depth of 150 metres and remains open both along strike and at depth.
Alicanto last tapped investors for cash in August when it undertook a $1.42 million private placement to take on exploration in Sweden and Guyana.
All up, 25,909,090 fully-paid ordinary shares were issued to sophisticated and professional investors at 5.5 cents.
In addition, Alicanto stated it would issue up to 27 million unquoted options to management, consultants and advisors.
Furthermore, 10 million unquoted options were issued to Non-Executive Chairman Ray Shorrocks.
The options will be exercisable at 10 cents and expire five years from the grant date.
Alicanto is yet to disclose how much it is raising or what it will be using the funds for.
Shares in Alicanto last traded for 14.5 cents on November 17.
