Golden Rim Resources (ASX: GMR) has been granted a trading halt by the ASX pending the release of capital raising details, with the company's shares placed in pre-open.
Golden Rim has not yet indicated where the new funds will be allocated, but the company has recently been announcing bonanza gold intersections at the Yako Project in Burkina Faso.
Earlier this week Golden Rim announced from the project that gravimetric re-assaying of a previously reported intercept was now; 31 metres at 65.6 grams per tonne (g/t) gold (which equates to 2.1 ounces per tonne gold) from 48 metres.
Included in the intersection is the spectacular; 6 metres at 308.1g/t gold, which is just under 10 ounces per tonne gold.
Golden Rim has a portfolio of projects in West Africa with a combined 4100 square kilometre license holding in Burkina Faso and Mali - covering six key gold and copper-gold projects.
The trading halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 27th July.
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