European Metals Holdings (ASX:EMH) has been granted a trading halt by the Australian Stock Exchange, with its shares placed in pre-open.
EMH requested the halt pending the release of capital raising details.
Recently EMH was granted an extension to the key Cinovec license covering the company’s Cinovec Tin Project in the Czech Republic.
The extension allows the company to complete a Feasibility Study on Cinovec including further exploration, underground sampling and drilling.
The JORC Resource is currently 28.1 million tonnes at 0.37% tin.
Cinovec is an historic tin mine incorporating a significant undeveloped tin resource with by-product potential including tungsten, lithium, rubidium, scandium, niobium and tantalum.
The outlook for tin appears to be strong, with Germany’s Federal Institute for Geosciences and Natural Resources forecasting an impending widening of demand over supply that, in its analysis, suggests a tin price approaching US$30,000/t may be expected in the near future.
The halt will remain in place until the opening of trade on Friday 3rd October 2014, or earlier if an announcement is made to the market.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.