(MENAFN- ProactiveInvestors - Australia) Emu Nickel (ASX: EMU) is set to release some acquisition news to the market, with the ASX granting the company a trading halt this morning - with its shares placed in pre-open.
The company board recently finalised its restructuring plan with Greg Steemson appointed as Managing Director. Emu Nickel had $3.1 million in cash at the end of December 2012.
In the December 2012 quarterly, the company said that it is currently examining new mining and development opportunities with potential to add significant value to the company.
These opportunities include advanced stage projects that are either close to production or in production including diamond operations (including several separate, discrete and entirely unrelated primary kimberlite, tailings re treatment and alluvial operations in Africa) and tantalite exploration / development projects.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 20th February 2013.
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