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Market: ASX
Sector: General Mining
EPIC: CAP
Latest Price: A$0.30  (0,00%)
52-week High: A$0.51
52-week Low: A$0.18
Market Cap: A$29.26M
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Carpentaria Exploration
www.carpentariaex.com.au

Carpentaria Exploration (ASX: CAP) is an exploration company focused on discovering base, precious metals and bulk commodities in eastern Australia. The company currently has interests in iron ore, tin, gold, copper and coal exploration projects. Discoveries to date include: Hawsons Iron Project - NSW and the Euriowie Tin Project - NSW.

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Carpentaria in trading suspension pending transaction announcement

13th Jul 2010, 8:16 am

Carpentaria Exploration (ASX: CAP) has requested suspension of trading in its securities  pending an announcement advising the outcome of negotiations regarding a potential change of control transaction.

The suspension is requested due to the proposal being still incomplete and due to there being a number of conditions that are required to be satisfied before the terms of any potential transaction can be finalised, which conditions are expected to take at least three days to be resolved.

Carpentaria expects that the suspension will be lifted following an announcement by the company.

CAP has been in the news lately with its Hawson iron joint project, near Broken Hill in New South Wales which is highly prospective for bulk magnetite iron.  CAP closed a deal with privately owned Bonython Metals Group Pty Ltd to farm-in to the venture with staged payments

The project has an exploration target of 2.2 to 4.8 billion tonnes at 18% magnetite DTR with a concentrate grade of 69 -71% Fe with a low level of impurities, to a depth of 250 m over an estimated strike length of the prospective host unit of 34 to 51 km. This deposit is widely considered to be one of the largest magnetite exploration targets in Australia.

CAP also released promising results from the first hole drilled at the Hughenden Coal (CAP 20%) project.

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