Viking Ashanti (ASX: VKA) is preparing to release details of a proposed capital raising and has requested a voluntary suspension from the ASX.
The company is close to locking in a corporate transaction, with the recent execution of a non-binding heads of agreement and exclusivity agreement with a third party.
The third party has projects in Ghana that have clear operational synergies with Viking’s existing asset portfolio.
Viking is heading for a Resource base of over 1 million gold ounces in Ghana as it continues to identify prospective gold targets at its Akoase project.
The suspension is expected to last until the earlier of the company releasing an announcement or the start of trade on Monday 11 March 2013.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.