Viking Ashanti (ASX: VKA) is heading to market with a capital raising, with the ASX granting the company a trading halt. Viking's shares are currently in pre-open.
Viking recently announced a strategic objective to acquire near term production assets, with the company moving to acquire emerging Mongolian coal developer Auminco Mines.
Auminco has the potential to deliver sustainable cash flow in excess of 15 years, with substantial exploration upside.
Viking will offer to acquire 100% of Auminco by the issue of Viking shares and options.
The acquisition will spread the geographical risk of Viking's assets, which had been previously focused on gold in Ghana.
The halt will remain in place until the opening of trade on Friday 20th December 2013, or earlier if an announcement is made to the market.
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