Ord River Resources (ASX:ORD) is set to tap the markets, having sought a halt to the trading of its securities.
The halt will be in place until the company issues a market release or the start of trade on 25 February.
Earlier this month, Ord River had detailed a revision to its resources at the Plutonic Gold project in Western Australia, with the total global resource now pegged at 7.7 million tonnes at 3.13 grams per tonne for 778,000 ounces of gold.
In the last quarter, Ord River had entered into a Farm In and Joint Venture with Dampier Gold for the Plutonic project, under which Ord was to sole fund a maximum of $6 million in project spend over two years in return for up to 75% interest in the tenements.
ORD is required to sole fund at least $2 million in project expenditure within the first nine months of the Joint Venture to earn 30%.
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