Copper Strike (ASX: CSE) has been granted a trading halt by the ASX this morning, with its shares placed in pre-open, as the company awaits an announcement by Syrah Resources (ASX: SYR).
Copper Strike owns 11 million Syrah shares and is heavily leveraged to Syrah price movement.
Syrah Resources (ASX: SYR) is preparing to make an announcement in relation to Scoping Study outcomes for the Balama Graphite and Vanadium Project.
Balama now hosts an Inferred Resource, which includes Balama West and Balama East, of 1.15 billion tonnes at 10.2% Total Graphitic Carbon (TGC) and 0.23% V2O5.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 7th June 2013.
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