Kairos Minerals Ltd (ASX:KAI) is preparing some highly anticipated news flow, following the ASX granting the company a trading halt pending exploration results from recent activities in the Pilbara region of Western Australia.
Kairos shares have lifted four-fold in the past six weeks as investors gain exposure to the conglomerate gold rush in the region.
Shares in the company last traded at $0.082, providing a 50% gain to the recent $7 million raising at $0.055 to sophisticated and professional investors.
Importantly, the placement will see Eric Sprott through Sprott Capital Partners in Canada subscribe for $5 million of the placement.
The halt will remain in place until the opening of trade on Thursday 9th November 2017, or earlier if an announcement is made to the market.