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- Ausmon Resources (AOA) has begun the week in a trading halt ahead of a capital raise
- The company will remain in the halt until September 16 or when the announcement is made, whichever occurs first
- On September 7, Ausmon announced it had begun a reverse circulation (RC) drilling program at Stirling Vale in New South Wales
- The company plans to drill 10 RC holes targeting cobalt, zinc, and gold mineralisation
- Drilling is slated for completion this month, while the results are expected in October
- Shares in Ausmon last traded for 0.8 cents each on September 11
Ausmon Resources (AOA) has begun the week in a trading halt ahead of a capital raise.
The company will remain in the halt until September 16 or when the announcement is made, whichever occurs first.
On September 7, Ausmon announced it had begun a reverse circulation (RC) drilling program at Stirling Vale in New South Wales.
The company plans to drill 10 RC holes, for 1200 metres, targeting cobalt, zinc, and gold mineralisation
Drilling is slated for completion this month, while the results are expected in October.
Ausmon last entered a trading halt in April 2018 after signing a binding term sheet with New Base Metals.
This agreement saw Ausmon acquire all the capital in New Base Metals and 100 per cent of its projects in Queensland and New South Wales.
Shares in Ausmon last traded for 0.8 cents each on September 11.
