Lachlan Star (ASX: LSA) has been granted a trading halt by the ASX today pending the release of a capital raising announcement, with the company placed in pre-open.
The company is in an interesting position at its CMD gold mine in Chile with the recent delivery of a 3 million ounce Resource.
The Indicated Resource increased by 138% to 1.722 million ounces, while the Inferred Resource is 1.255 million ounces.
Importantly, Lachlan Star is now well placed to ramp up gold production and extend the mine life.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Tuesday 13 March.