Silver Swan Group (ASX: SWN) has been granted a trading halt by the ASX pending the release of information regarding a capital raising.
The company expects to make an announcement on or before the commencement of trading on Monday 25 July.
Aviva did not elaborate on the capital raising, however the company has had recent drilling success at the Flinders Prospect in the northern part of the Quinns project.
On May 3 Silver Swan entered a binding agreement to acquire 14 square kilometres of prospective gold, copper and zinc tenements at Quinns, located 55 kilometres south of Meekatharra in Western Australia.
The company has carried out substantial exploration this quarter and has developed well-conceived targets at Quinns for new VMS mineralisation and high-grade gold mineralisation at its Stakewell project, and is now prioritising further drilling at Flinders, Murchison Wonder and Stakewell.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/18048/silver-swan-group-in-trading-halt-pending-capital-raising-announcement-18048.html
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