(MENAFN- ProactiveInvestors - Australia) Gascoyne Resources (ASX: GCY) has been placed in pre-open this morning after the ASX granted the company a trading halt pending the release of capital raising details.
Gascoyne is focused on two gold projects in Western Australia, which combined have a resource of over 1.4 million ounces,
At Glenburgh, which has over a million of these ounces, the discovery cost is close to $7 per ounce, with a Feasibility Study well-advanced with the forecast completion date early 2013.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 6th December 2012.
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