Copper Strike (ASX: CSE) is in pre-open this morning, following the ASX granting the company a trading halt.
Copper Strike requested the halt as it holds 11 million shares in Syrah Resources (ASX: SYR), which on the last closing price of $2.59 - values the stake at around $28.5 million. Syrah has also been granted a halt today, pending an announcement in relation to the company’s Mining Licence Application.
Syrah is focused on the Balama graphite project in Mozambique, and recently raised $35M to progress the project.
The halt will remain in place until the opening of trade on Tuesday 24th December 2013, or earlier if an announcement is made to the market.
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