Volta Mining (ASX: VTM) has requested a trading halt in its shares, pending the release of an announcement regarding the appointment of a new director.
The fact a halt has been called by Volta for a new director appointment is interesting, as it potentially hints at a "big name".
The trading halt will remain until commencement of trading on Wednesday, 12 March 2014, or upon release of the announcement.
In January, Volta raised $2.5 million to advance exploration at the Newman DSO iron ore project in Western Australia’s Pilbara region, after 100% acceptance by Pilbara Commodities shareholders for Volta's acquisition offer.
Pilbara Commodities holds the Newman Direct Shipping Ore project, which includes the Sirius Extension prospect, adjacent to Brockman Mining's (AX:BCK) Sirius Deposit that hosts an inferred Resource of 109 million tonnes at 60% iron.
Of particular note, Newman also borders licences held by Fortescue Metals (ASX:FMG), Hancock Prospecting, and BHP Billiton's (ASX:BHP).
In addition, a recent infrastructure and export deal between Flinder's Mines (ASX:FMS) and Rutila Resources (ASX:RTA) could assist another of Volta's new iron ore projects in the Hamersley Ranges.
Volta's new project is in very close proximity to Rutila's and Flinders' proposed infrastructure agreement.
These recent bullish developments for Volta may have helped draw a successful mining identity to join Volta, which could be an iron ore player to watch with a modest valuation of $14 million.
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