viewPacific American Holdings Ltd

Pacific American Holdings shares halted ahead of fundraising announcement

A new drill program at the Elko Coking Coal Project will assist in completing a pre-feasibility study as well as defining JORC reserves on the property.

Pacific American Holdings Ltd - Pacific American Holdings is in trading halt head of a fund raising
PAK recently upgraded its high-quality coking coal JORC resource to 303.1 million tonnes

Pacific American Holdings Ltd (ASX:PAK) has been granted a trading halt ahead of a fundraising announcement, which is being finalised by the company’s corporate advisor.

The trading halt will remain in place until the beginning of normal ASX trading on Monday, November 4, or when an announcement is made to the market, whichever occurs earliest.

Securities of the North American coal developer last traded at 3.4 cents, down from 4.11 cents on October 9.

Drilling permit approval

In September the company secured the Notice of Work (drilling permit) approval for its Elko Coking Coal Project in British Columbia, Canada, for a further five years through to September 24, 2024.

The company is now able to begin activities that will support the next exploration campaign:

  • Engaging with exploration drilling companies and geophysical coal loggers;
  • Shortlisting construction companies, coal analytical companies and geotechnical consultants;
  • Finalising a comprehensive list of risk mitigation strategies for exploration;
  • Completing in-field environmental and archaeological surveys; and
  • Working with stakeholders to deliver another successful exploration program.

Quick facts: Pacific American Holdings Ltd

Price: 0.012 AUD

Market: ASX
Market Cap: $3.33 m

Add related topics to MyProactive

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


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 Pacific American Holdings Ltd named herein, including the promotion by the Company of Pacific American Holdings Ltd in any Content on the Site,...



Kavango Resources' Mike Moles talks 'breakthrough' from new report on KSZ

Kavango Resources PLC's (LON:KAV) Mike Moles speaks to Proactive London's Andrew Scott following an update on its Kalahari Suture Zone prospect. An independent consultant’s report has confirmed two further characteristics of the geology of the project that are shared by the Norilsk deposits in...

12 hours, 13 minutes ago

2 min read