Gold producer Lachlan Star (ASX: LSA) has been granted a trading halt by the ASX pending a capital raising announcement, with the company's shares placed in pre-open.
Lachlan Star has not yet indicated where the potential funding injection will be allocated.
What is so interesting with the company at the moment is success on two fronts - being exploration and production.
Just a couple of weeks ago Lachlan Star delivered to the market a 20% boost in gold production at the CMD mine in Chile, along with some significant drill results.
The X-factor at the CMD mine for Lachlan Star is that the project adjoins the massive Teck Resources (NYSE: TCK) copper producing Andacollo mine.
With Lachlan Star already making significant broad copper discoveries, similar to those already mined next door by Teck - the future potential remains for some sort or ore processing agreement.
Coverage oringinally posted at: http://www.proactiveinvestors.com.au/companies/news/18348/lachlan-star-in-pre-open-pending-capital-raising-announcement-18348.html
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