Yandal Resources Ltd (ASX:YRL) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.
The trading halt will remain in place until the beginning of regular ASX trading on Wednesday, October 21, or when an announcement is released to the market.
Shares last traded at 54 cents after reaching a new record high of 56.5 cents on October 15 and since October 2 have risen from 24 cents.
Highest gold grades to date
Earlier this month the company intersected the highest gold grades to date at Gordons Dam prospect within the Gordons Gold Project in the highly prospective Kalgoorlie-Boulder Region of Western Australia.
A highlight of the 1-metre downhole sample fire assay results from reverse circulation (RC) drilling was 1-metre at 73.12 g/t gold within 8 metres at 11.03 g/t from 36 metres.
Fifty-five RC holes for 4,385 metres were completed at the prospect to test for extensions immediately adjacent to and along strike from mineralisation hosted within shallow oxidised palaeochannel sediments, felsic porphyry and mafic rocks.