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Anglo Australian Resources (ASX:AAR) - Managing Director, Marc Ducler (right) - The Market Herald
Managing Director, Marc Ducler (right)
Source: Business News
  • Anglo Australian Resources (AAR) has entered a trading halt ahead of a capital raising venture
  • Earlier this week, the company received positive results from ongoing drilling at its Mandilla Gold Project in Western Australia
  • Drilling confirmed the continuity of mineralisation at Mandilla East and the presence of broad mineralisation that remains open at depth and along strike
  • The company has also recently begun a reverse circulation drilling program at Mandilla, which includes 70 holes for 10,600 metres
  • Whether or not the upcoming capital raise will support these drilling efforts is not yet known
  • Company shares last traded for 18.5 cents on Wednesday, September 16

Gold and base metals explorer Anglo Australian Resources (AAR) has entered a trading halt ahead of a capital raise announcement.

The company will remain in a trading halt until Monday, September 21, unless they announce the fundraising details early.

Earlier this week, the gold and base metals explorer received positive results from ongoing drilling at its Mandilla Gold Project in Western Australia.

Drilling confirmed the continuity of mineralisation at Mandilla East and the presence of wide, strongly mineralised zones that remain open at depth and along strike.

Anglo also shed light on the next phase of its drilling at the Mandilla Project. This program began earlier this month and includes 70 holes, for 10,600 metres, of reverse circulation drilling.

Whether or not the upcoming capital raise will support these drilling efforts is not yet known.

Company shares last traded for 18.5 cents on Wednesday, September 16.


Find out more about this capital raise


AAR by the numbers
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