Gujarat NRE Coking Coal (ASX: GNM) has been granted a trading halt by the ASX today pending the release of a potential corporate transaction including a capital placement, with the company's shares placed in pre-open.
Gujarat NRE has recently been making some major progress at the company's operations, including the highest coal production in the June 2012 quarter - which was around 2.4 times higher than the corresponding period a year earlier.
In the June quarter the company also made a strategic off-take alliance with Jindal Steel & Power, and a successful $25 million equity placement.
The halt will last until the earlier of an announcement being made to the market or the open of trade on Wednesday 22nd August.
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