Peel Mining raises capital to drill out new discovery
Shares in Peel are up 160% year to date, currently trading at $0.44.
Company
ASX:PEX
Peel Mining Ltd (ASX:PEX) is an Australian company focused on exploring and developing precious, base and specialty metals resources in New South Wales and Western Australia.
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Shares in Peel are up 160% year to date, currently trading at $0.44.
Shares in Peel have been positively re-rated to 12-month highs.
The halt will remain in place until Wednesday 8th November 2017.
Shares in Peel finished up 47% on the day, closing at $0.45.
The drilling results are highly anticipated and will follow the XRF results.
The halt will remain in place until Thursday 19th October 2017.
The proposed transaction will have Peel vending Apollo Hill into a subsidiary.
Peel Mining shareholders will be given a priority offer in the new listing.
Next key news flow is the pre-feasibility study due for completion in September
These drill intercepts are the most significant results received to date at Wirlong.
The T1 prospect within the Mallee Bull Project presents a near-term mining opportunity.
The Mallee Bull Project is Peel's most advanced asset.
Drilling is ongoing at multiple Peel projects located near Cobar.
T1 at Mallee Bull represents an early development opportunity.
Drilling at Wirlong has intercepted high-grade copper at depth.
$3.28 million has been secured through the issue of 16 million shares.
The halt will remain in place until Wednesday 5th April 2017.
Preliminary results for drill hole WLRCDD043 suggest mineral extensions.
The halt will remain in place until Wednesday 22nd March 2017.
Peel has received all assays from 2016 drilling at Wagga Tank.