(MENAFN- ProactiveInvestors)
RNI NL () has been granted an ASX trading halt in relation to a capital raising.
The halt will last until the earlier of the announcement being made or the start of trading on 22nd December 2014.
In late November RNI said it was in negotiations with various potential project financiers to establish the best fit for the company and its Grosvenor Gold Project located 170 kilometres northwest of Meekatharra Western Australia.
Work completed on the project to date means that Grosvenor can be in production within approximately nine months of project financing being secured.
Grosvenor has a resource of about 2 million ounces of gold and an existing 1 million tonne per annum gold processing plant.
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