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- Yandal Resources (YRL) has begun the week in a trading halt ahead of a capital raise
- The company will remain in the halt until October 21, or when the announcement is made, whichever occurs first
- On October 8, Yandal intersected its highest grades to date at the Gordons gold project in Western Australia with up to 73.12g/t gold being intersected
- 55 reverse circulation (RC) holes were drilled to test for extensions along strike from known mineralisation
- Shares in Yandal last traded for 54 cents on October 16
Yandal Resources (YRL) has begun the week in a trading halt ahead of a capital raise.
The company will remain in the halt until October 21, or when the announcement is made, whichever occurs first.
At this point, Yandal is yet to announce how much it is raising or what it will use the funds for.
On October 8, Yandal intersected its highest grades to date at the Gordons gold project in Western Australia.
55 reverse circulation (RC) holes were drilled to test for extensions along strike from known mineralisation.
Up to 73.12g/t gold was intersected, and once all results have been received, they will be used in a maiden mineral resource estimate.
Yandal last entered a trading halt in June regarding a $3.4 million non-renounceable rights offer.
The company used the funds for exploration at the Gordon’s and Mt McClure projects, and general working capital.
All up, 13,369,595 shares were issued — on the basis of one new share for every five held — at 25 cents per share.
Shares in Yandal last traded for 54 cents on October 16.
