Great Southern Mining Ltd (ASX:GSN) plans to release an announcement regarding a proposed capital raising and has been granted a trading halt by the ASX.
The company's securities will remain halted until the earlier of the start of normal trading on Friday, November 20, 2020, or when the announcement is released to the market.
Mon Ami development
Great Southern recently set a development pathway for gold operations at Mon Ami in Western Australia after completing an in-house preliminary economic evaluation of the potential for an open-pit development.
The progression towards development is expected to add significant underlying value to Mon Ami and the company’s gold strategy.
Development of the deposit offers a potential source of cash flow for ongoing funding of aggressive exploration plans across the gold portfolio - including Cox’s Find, at depth at Mon Ami and the Edinburgh Park Gold Project in North Queensland.