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- Calidus Resources (CAI) has entered a trading halt pending an upcoming capital raising
- The company will remain in the halt until March 25 or when more information regarding the raise is released, whichever occurs first
- On March 2, Calidus began site works at its Warrawoona Gold Project in Western Australia following the granting of permits by two government departments
- Work will ramp up over the next few months and will include the construction of a tails dam for open-pit mining
- Shares in Calidus last traded at 44 cents on March 19
Calidus Resources (CAI) has entered a trading halt pending an upcoming capital raising.
The company will remain in the halt until March 25 or when more information regarding the raise is released, whichever occurs first.
Calidus is yet to disclose how much it intends to raise or what it will use the funds for once received.
On March 2, Calidus began site works at its Warrawoona Gold Project in Western Australia following the granting of permits by two government departments.
Work will ramp up over the next few months and will include the construction of a tails dam for open-pit mining.
Calidus last tapped investors for cash in December when it undertook a $31.87 million placement to fund the construction of Warrawoona.
All up, 62.5 million shares were issued to institutional and sophisticated investors at 51 cents.
A share purchase plan was then undertaken to raise up to $5 million, with shares priced the same as the placement.
Shares in Calidus last traded at 44 cents on March 19. The company has a $150.6 million market cap.
