Black Range Minerals (ASX: BLR) shares are in pre-open this morning, following the ASX granting the company a trading halt.
Black Range is preparing to outline an acquisition, along with financing.
The company recently kicked off a drilling program at the Hansen Uranium Deposit, and following ongoing mine design work, five new wells are being installed for water monitoring purposes.
Black Range wholly-owns the Hansen/Taylor Ranch Uranium Project in the U.S., which hosts Indicated and Inferred resources of 90.9 million pounds of U3O8 at a grade of 600 ppm U3O8 (0.06% U3O8).
The halt will last until the opening of trade on Wednesday 30th October 2013, or earlier if an announcement is made to the market.
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