TORONTO (miningweekly.com) – ASX- and JSE-listed junior Gold One has had trading in its shares halted on both exchanges, ahead of an announcement regarding a capital raising by the company.

The trading halt was requested by the company, which will publish details of the capital raising, following the completion of investor presentations.

Gold One, which was formed earlier this year when South Africa's Aflease Gold bought Australian BMA Gold, expects to start commercial production at its Modder East mine, in South Africa, in the second half of this year.

The construction of the mineis fully funded, CEO Neal Froneman said last month. Modder East is expected to run at an average steady state production level of 110 000 oz/y.

The company has other assets in Namibia, Mozambique, South Africa and Australia.

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