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- GWR Group (GWR) has entered back-to-back trading halts ahead of a capital raise announcement
- The company is focussed on developing its Wiluna West gold project and Wiluna West C4 iron ore deposit into low capex mining operations
- Mining approvals have been granted at the iron ore project — allowing GWR to begin producing high-grade, low-impurity iron ore
- Whether or not the capital raise will support development works and production is not yet known
- Company shares last traded for 19.5 cents on Friday, September 25
GWR Group (GWR) has entered back-to-back trading halts ahead of a capital raise announcement.
The company will remain in the trading halts until no later than Friday, October 2.
GWR is focussed on developing its prospective exploration projects into low-capex mining operations. Lately, the company has focused on its Wiluna West Gold Project and the Wiluna West C4 iron ore deposit.
Wiluna West Gold refers to the gold located on GWR’s Wiluna West tenements and is located approximately 40 kilometres southwest of the Blackham Matilda-Wiluna Gold Operation which includes a gold processing and treatment plant.
At the end of August, GWR was granted mining approvals, allowing it to begin producing high-grade, low-impurity iron ore at the Wiluna West Iron Ore Project.
Last week, GWR announced it has been working towards commencing initial site works and gaining the final approvals and clearances to begin production.
The company has engaged Pilbara Resources Group (PRG) to conduct works for stage one development, mining and transport of the iron ore project. Under these terms, PRG is funding this work.
GWR has also engaged with the Mid West Ports Authority for port and shed access and continues to investigate other opportunities.
Whether or not the capital raise will support development works and production is not yet known.
Company shares last traded for 19.5 cents on Friday, September 25.
