Talga Resources (ASX: TLG) will soon launch a fund raising initiative and has been granted an ASX trading halt.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 6th September 2013.
Talga had in late August increased Resources at its Raitajärvi project in Sweden by 500% to 307,300 tonnes of total contained graphite.
It noted the deposit remained open at depth and along strike with only 25% of the electromagnetic conductor/graphitic unit tested to date.
The company had also in July doubled its Swedish iron ore magnetite resources to 236 million tonnes.
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