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Gunson Resources To Announce News Of Capital Raising, Granted ASX Trading Halt

Gunson Resources (ASX: GUN) will soon reveal the outcome of a recent capital raising, with the company requesting a trading halt from the ASX today.

The company is developing the Coburn Zircon Project, with major Korean steel producer POSCO signing on as a joint venture partner providing a filip to the pace of development.

POSCO, which boasts a $26 billion market cap., will earn a 40% interest in Coburn with an initial A$7 million payment and then contributing the first $21 million of Gunson's share of mine development expenditure.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Friday 24 August.

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