(MENAFN- ProactiveInvestors - Australia) Callabonna Resources (ASX: CUU) has placed its shares in an ASX trading halt today as it prepares to release an announcement on a proposed transaction and a capital raising.
The company revealed in its December 2012 quarterly it had received several expressions of interest to acquire its Georgetown Gold Project, located in the Georgetown Goldfield in Queensland.
Callabonna is also in the process of finalising the sale and purchase agreement for the sale of its Weipa Bauxite Project in Queensland to McKay Brooke Resources.
The company is planning a capital raising to fund continuing operations and the evaluation of new opportunities.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 11 February 2013.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.