Genesis Minerals (ASX:GMD) recently delivered an updated resource for the Ulysses Gold Project, located near Leonora in Western Australia.
The combined Ulysses Indicated and Inferred Resource now stands at 2.13 million tonnes at 2.2g/t gold for 151,500 ounces of gold.
Genesis remains focussed on delivering a cash flow stream in 2016 via a high-grade, low cost open pit gold mining operation at Ulysses with toll treatment of ore through one of the many gold plants in close proximity.
The company has now been granted a trading halt to complete a capital raising.
The halt will remain in place until the opening of trade on Wednesday 2nd march 2016, or earlier if an announcement is made to the market.
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