Nickel-explorer St George Mining (ASX: SGQ) is heading to market with a capital raising, in the form of a placement to institutional and sophisticated investors.
The ASX has granted the company a trading halt to prepare the details, with its shares placed in pre-open.
The company is currently preparing to drill test high priority nickel targets at its wholly-owned East Laverton Property, which will include deep diamond core drilling.
St George holds over 2000 square kilometre footprint in the NE Goldfields of Western Australia, covering three ultramafic belts with multiple targets.
The halt will remain in place until the opening of trade on Friday 29th November 2013, or earlier if an announcement is made to the market.
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