African exploration-play Walkabout Resources (ASX: WKT) is heading to market with a capital raising.
The ASX has today granted the company a trading halt, with its shares placed in pre-open.
The company has recently been involved in the discovery of several mineralised shear hosted veins at the Kigoma Copper Project in Tanzania.
Up to 2.1% copper, 3.4% zinc and 63.0g/t silver over separate one metre downhole intervals in reconnaissance drilling.
In regards to the Takatokwane Coal in Botswana, in the December 2013 quarter Walkabout signed a Memorandum of Understanding with Botswana focussed coal technology company Coalswana.
In the MoU Walkabout agreed to negotiate a life of mine On-Site Off-Take Agreement for coal fuel to Coalswana for the purposes of converting coal to gas and liquid, amongst other products.
The halt will remain in place until the opening of trade on Tuesday 11th March 2014, or earlier if an announcement is made to the market.
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