Ramelius Resources (ASX: RMS) is preparing details of a share placement, along with an update on the Vivien Gold project acquisition.
Ramelius had cash and gold on hand of A$37 million at the end of June 2013, and listed investments of A$4 million.
Vivien is located in Western Australia, with Ramelius previously signing agreements with Gold Fields to acquire high grade the project, with a drilling, mining study planned to commence in 2013/14.
The project has an Indicated Resource of 579,000 tonnes at 8.3g/t gold for 154,000 ounces.
Significant true width intersections include: 10 metres at 31.8g/t gold; and 5.5 metres at 33g/t gold.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 3rd September 2013.
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