Phoenix Gold (ASX:PXG) is currently raising capital with overseas investors and the Australian Stock Exchange has granted it additional time to finalise in the form of a voluntary suspension.
The suspension is expected to end at the earlier of the commencement of trading on Monday, 9 February 2015 or when the announcement about the capital raising is made.
In the December Quarter 2014, the company poured its first gold from its Kintore project.
This included 5,591 ounces through mining of 113,000 tonnes of highly oxidised ore grading 1.5 grams per tonne gold from the upper levels of the Kintore pit.
The company has an extensive land holding on the Zuleika and Kunanalling shear zones northwest of Kalgoorlie in Western Australia, home to some of Australia’s richest gold deposits.
The wholly-owned Castle Hill gold project is emerging as a flagship asset with the potential to become a multi-million ounce gold mine.
The halt will remain in place until the opening of trade on Friday 6th February 2015, or earlier if an announcement is made to the market.
