Perth based St George Mining (ASX: SGQ) has been granted a trading halt this morning and placed in pre-open pending the release of capital raising details.
St George has not yet indicated where the potential capital raising will be allocated, but the company earlier this week expanded the wholly owned Red Dragon rare earth element prospect.
The prospect is hosted within the company's East Laverton Property in the NE Goldfields region of Western Australia, with a news MMI soil survey expanding the area of carbonate rare earth alteration and.
Importantly - this confirmed the presence of a very large carbonatite intrusive complex extending over 60 square kilometres.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 15th October.
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