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Laconia Resources Is Preparing To Release Capital Raising Details

Laconia Resources (ASX: LCR) has been granted a trading halt this morning pending the release the release of capital raising details, with the company's shares placed in pre-open.

Laconia has not yet indicated where the potential new funds will be allocated, but the company is currently on the fast track to precious metals production in Peru.

At the flagship Rasuhuilca gold-silver Project in Peru, the current company focus is on building on the existing resource of; 360,000 tonnes at 1.97g/t gold and 179g/t silver.

Other activities and highlights for the project include; Planned move to production with near-term mine development; Currently confirming previous feasibility study - due for release in the December quarter 2012; Proximal to major multi-million oz gold-silver projects; Strong exploration upside potential with 2,200 metres of drilling due to commence in the December quarter 2012.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 3rd September.

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