Discovery Africa (ASX: DAF) is preparing to outline a project acquisition, with the ASX granting the company a trading halt.
DAF's shares are now in pre-open.
Earlier in the day the company provided an update on the acquisition of the Kitgum Graphite Project.
In January this year the company executed a Heads of Agreement with Consolidated African Resources Limited (CARL) in relation to Exploration Licence 1025, located near Kitgum in Uganda, Africa.
The agreement allows Discovery to purchase up to 100% of CARL.
The halt will remain in place until the opening of trade on Tuesday 8th April 2014, or earlier if an announcement is made to the market.
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