Kentor Gold (ASX: KGL) has been granted an ASX trading halt ahead of a decision at its Annual General Meeting today on the sale of its Andash Project.
While the halt could last until the start of normal trading on Monday, 12 August 2013, the company expects to return to trading today when the results of the meeting are released.
Earlier in the year Kentor entered into an agreement to sell the Andash gold-copper project to Robust Resources (ASX: ROL) for $15 million.
Shareholders will decide on the sale at the AGM.
Proceeds from the sale will be used to undertake exploration activities and continue the feasibility study on the Company’s Jervois Project; and contribute to the creditors of Kentor Minerals (WA) Pty Ltd (KMWA) under the Deed of Company Arrangement if accepted.
Kentor has already received a deposit of $1.5 million from Robust Resources.
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