Gleneagle Gold (ASX: GLN) has requested that the company's shares be placed in a trading halt until commencement of trading on Wednesnesday 7 April 2010, unless advised earlier by the company, pending an announcement in relation to a joint venture agreement.
The company said it is not aware of any reason why the trading halt should not be granted.
Gleneagle is an exploration company with a focus on Southern African mineral and coal opportunities which have defined programmes of work in place to develop into operating mines supporting major energy generating services.
Gleneagle recently signed agreements to conditionally acquire up to a 70% interest in two Prospecting Rights for coal, over the farms Verloren Valey, Kleinberg, Duikerpan and Houwhoek, located in the Waterberg region of South Africa.
The acquisition is conditional on, amongst other things, the completion of due diligence and the obtaining of shareholder approval and all necessary regulatory approvals.