Centaurus Metals (ASX: CTM) has been granted a trading halt by the ASX pending a 'strategic alliance' announcement, with the company's shares placed in pre-open.
Centaurus has not yet elaborated on the alliance, but the company has been recently achieving some major milestones.
Just last month the company delivered a JORC Resource upgrade to 70.6 million tonnes at 28.0% iron at the Jambreiro Iron Ore Project in Brazil.
Importantly - over half of the resource is in the higher confidence Measured and Indicated categories.
Centaurus said recent beneficiation test work at Jambreiro demonstrates that the friable mineralisation can be upgraded to a plus 65% iron hematite product.