Bauxite focussed Canyon Resources (ASX:CAY) is preparing to outline details of a capital raising.
The ASX has granted the company a trading halt, with its shares placed in pre-open.
The company's key project is the Birsok Bauxite Project in Cameroon, with the inaugural drilling program returning high-grade, low impurity bauxite mineralisation.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 21st November.
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