Beacon Minerals Limited (ASX:BCN) has requested an immediate trading halt, pending an upcoming announcement regarding drilling results from its Lady Ida gold project in Western Australia. The ASX granted the trading halt on Tuesday morning. Beacon Minerals is an Australian gold production company focused on developing projects in the eastern goldfields of Western Australia. The company is currently producing gold from its Jaurdi gold project.
The trading halt is expected to remain in effect until the earlier of either the release of the drilling results announcement or the commencement of trading on Friday, August 18. This measure ensures that all investors have access to the same information simultaneously, preventing potential market speculation based on incomplete data.
Lady Ida is considered a promising exploration prospect for Beacon Minerals. The drilling program aims to further define the extent and grade of gold mineralisation at the site. The results of this program will be crucial in determining the future development strategy for the Lady Ida project.
Investors are advised to monitor the ASX announcements platform for the release of the drilling results from Beacon Minerals. Once the announcement is made, the trading halt will be lifted, and normal trading of BDN shares will resume.
