Zuleika Gold (ASX:ZAG) - Executive Chairman, Malcolm Carson
Executive Chairman, Malcolm Carson
Source: The Market Herald
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  • Zuleika Gold (ZAG) ends the week in a trading halt while it plans the details of an upcoming capital raising
  • On January 4, Zuleika released a statement regarding a correction to Vango Mining’s (VAN) ASX announcement concerning Zuleika’s Supreme Court action
  • Zuleika is suing Vango and its wholly-owned subsidiary Dampier, and is seeking substantial damages following the K2 Project Farm-In-Joint Venture
  • A Vango announcement stating “His Honour also noted Zuleika Gold’s claims against Vango” is incorrect as Justice Martin did not refer to Zuleika’s action
  • Shares in Zuleika last traded at 2 cents each on January 12

Zuleika Gold (ZAG) has ended the week in a trading halt while it plans the details of an upcoming capital raising.

The company will remain in the halt until the earlier of January 18 or when further information is released, whichever occurs first.

Zuleika is yet to disclose how much it intends to raise or what it will use the funds for once received.

On January 4, Zuleika released a statement regarding a correction to Vango Mining’s (VAN) ASX announcement concerning Zuleika’s Supreme Court action.

Zuleika is suing Vango and its wholly-owned subsidiary Dampier, and is seeking substantial damages, costs and an order requiring the transfer of Zuleika’s interest earned following the K2 Project Farm-In-Joint Venture binding term sheet.

Vango’s announcement on December 17 stated “His Honour also noted Zuleika Gold’s claims against Vango and, having noted his comments, Vango looks forward to meeting Zuleika in Court as soon as possible in 2022.”

The section “His Honour also noted Zuleika Gold’s claims against Vango” is incorrect as Justice Martin did not refer to Zuleika’s action.

Vango has been invited to correct or retract this announcement.

Shares in Zuleika last traded at 2 cents each on January 12. The company has an $8.2 million market cap.

ZAG by the numbers
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