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MENAFN - ProactiveInvestors - Australia - 07/11/2012

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(MENAFN - ProactiveInvestors - Australia) Northern Minerals (ASX: NTU) is preparing to make a capital raising announcement, with the ASX granting the company a trading halt this morning.

The company has been advancing exploration at the Browns Range Heavy Rare Earths Project - with 23,000 metres of diamond and reverse circulation drilling completed during the quarter, and is also moving towards a maiden JORC Resource at the Wolverine prospect, which is expected before the end of 2012.

Rare earths will also remain the focus for the company, after it recently commenced the divestment process of non-REE assets, with the Gardiner-Tanami gold project.

The halt will last until the earlier of an announcement being made to the market, or the open of trade on Friday 9th November 2012.

 






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