Auroch Minerals (ASX:AOU) has been granted a trading halt by the ASX pending details regarding the disposal of the Manica Gold Project in Mozambique.
Recently Auroch entered into a binding agreement to sell 100% of the Manica Mining Concession 3990C to Xtract Resources (LON:XTR).
Consideration for the deal is US$11 million in a combination of cash and equity in Xtract, plus assumption of project related creditors of up to US$1.5 million.
The halt will remain in place until the opening of trade on Monday 14th September 2015, or earlier if an announcement is made to the market.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.