(MENAFN- ProactiveInvestors - Australia) Cauldron Energy (ASX: CXU) has been granted a trading halt by the ASX this morning pending exploration results from the Marree project in South Australia, with the company's shares placed in pre-open.
Marree is currently in a joint venture with a Korean consortium (KORES, Daewoo, LG International) with the group currently holding 40%, and earning up to 50%.
The farm-in includes $6.2 million over 3 years, with current mapping and soil sampling underway to define drill targets.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 17th October 2012.
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