Copper Strike (ASX: CSE) has been granted a trading halt by the ASX this morning pending an announcement from Syrah Resources (ASX: SYR) - with both companies in pre-open.
Copper Strike holds 11 million shares in Syrah and is therefore heavily leveraged to movements in its share price.
Syrah has results pending from the Balama Graphite and Vanadium Project in Mozambique, which has recently been yielding some very impressive intersections such as 186 metres at 16.7% total graphitic carbon and 0.46% vanadium from 131 metres, including 94 metres at 19.1% total graphitic carbon and 0.57% vanadium just last week from diamond drilling.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 26th September.
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