Total
0
Shares
Black Dragon Gold (ASX:BDG) - CEO, Paul Cronin
CEO, Paul Cronin
Source: 121 Mining Investment Events
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Black Dragon Gold (BDG) has entered a two day trading halt as it gears up to raise some much-needed extra capital
  • The European gold miner ended September with $853,000 in the bank, enough funds to keep running for an additional 1.5 quarters
  • BDG spent $577,000 on operating expenses during the three month period, as it continues to advance its Salave project in Northern Spain
  • The company has submitted an Environmental Impact Assessment for the gold asset and is also advancing a Preliminary Economic Assessment
  • Black Dragon Gold shares last traded at 7.3 cents each on November 15

Black Dragon Gold (BDG) has entered a two-day trading halt as it gears up to raise some much-needed extra capital.

The European gold miner has halted its securities from trading on the ASX until November 18 so it can finalise a capital raising effort.

The company ended September with just $853,000 in the bank, having spent $577,000 on operating expenses during the same three month period.

At that rate of spend BDG only has enough funds to keep it running for an additional 1.5 quarters of growth.

Black Dragon Gold is currently focused on advancing its Salave gold project in Northern Spain, which has a Measured Mineral Resource of 1.03 million tonnes at 5.59 grams per tonne gold for 190,000 ounces.

The company recently submitted an Environmental Impact Assessment for the gold asset and is also advancing a Preliminary Economic Assessment (PEA).

The PEA includes some of the modifications necessary for the environmental approval and is the final step before BDG begins a Definitive Feasibility Study for Salave.

Before today’s trading halt, Black Dragon Gold had been trading at 7.3 cents per share on Monday, November 15.

BDG by the numbers
More From The Market Herald
The Market Herald Video

" Week in review: Twiggy’s Tattarang backs Emyria’s cannabinoid, MDMA and magic mushroom trials

Welcome to the Market Herald Deal Room for this Friday, where we review the week in capital raising.

" Matrix Composites & Engineering (ASX:MCE) planning capital raise

Matrix Composites & Engineering (MCE) has entered into a trading halt while it plans the final details of an upcoming capital raise.
Firstwave Cloud Technology (ASX:FCT) - Executive Chairman, John Grant

" FirstWave Cloud Technology (ASX:FCT) halts trade on acquisition and cap raise

FirstWave Cloud Technology (FCT) has placed its shares in a trading halt, effective immediately.

" IXUP (ASX:IXU) enters trading halt amid capital raise

IXUP (IXU) has entered into a trading halt ahead of an upcoming capital raise.