Bulletin Resources (ASX:BNR) has been granted a trading halt by the ASX pending details of a proposed capital raising.
Last week Bulletin said that it had received approval for finance and has executed loan documentation with the Commonwealth Bank (ASX:CBA) that will provide the loan finance required by Bulletin towards meeting its share of the redevelopment of the Nicolsons Gold Project.
Nicolsons is located near Halls Creek in Western Australia.
The loan finance obtained will cover around 77% of the total funding required by Bulletin to meet its 20% share of the project funding and has been done as a gold prepayment facility.
The halt will remain in place until the opening of trade on Thursday 26th February 2015, or earlier if an announcement is made to the market.
