logo-loader
Oakdale Resources Ltd

Oakdale Resources in trading halt with acquisition news pending

The company’s securities will be in a trading halt until Thursday, June 27, or when an announcement is released.

View of project area in Peru
Oakdale recently signed a binding term sheet to acquire projects in Peru

Oakdale Resources Limited (ASX:OAR) has an acquisition announcement pending and has been granted a trading halt by the ASX.

The halt will remain in place until the beginning of trade on Thursday, June 27, or when an announcement is made to market, whichever occurs earliest.

READ: Oakdale Resources to acquire Peruvian gold mine project as plant feed

Last month the company agreed to acquire the Burpar Gold Project in a high-grade gold district in southern Peru, near Ozinca Gold Plant.

The company has signed a binding term sheet for the acquisition and hopes to haul large quantities of feed on a bitumen highway to the plant, which is 150 kilometres away from a gold mine Oakdale picked up with the acquisition.

The company bought the plant in March 2019 and hopes to start work imminently on refurbishing the facility.

Engineering study to form cornerstone of regulatory submission

The company is preparing an engineering study for the refurbishment for regulators.

Oakdale is also close to finishing a detailed engineering study that will form the cornerstone of its regulatory submission for an expanded 120 tonnes per day approval and licensing process.

Quick facts: Oakdale Resources Ltd

Price: $0.01

Market: ASX
Market Cap: $1.99 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Oakdale Resources Ltd named herein, including the promotion by the Company of Oakdale Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read