Luiri Gold (ASX: LGM) has been granted a trading halt by the ASX pending the release of details concerning the company's Zambian mining license, with the company's shares placed in pre-open.
The halt will last until the until the earlier of an announcement being made to the market, or the open of trade on Wednesday 12 October.
Activities during the quarter
During the July 2011 quarter the company continued its negotiations with all levels of the Zambian government and public service and with the local Chief and relevant communities in an endeavour to resolve the title issues surrounding the company’s exploration tenements in Zambia.
By quarter end, although the new company management was developing positive relationships with all interested stakeholders there had been no resolution to clarify title to these areas, and as such remains uncertain.
In the October quarter the company will continue in its endeavours to resolve the Zambian tenement issues.
In addition the company has commenced a search to acquire mineral projects outside of Zambia to provide alternative exploration and development activities.