Minbos Resources (ASX:MNB) has been granted a trading halt by the ASX pending details of a proposed capital placement.
Earlier in the month Minbos said that it had entered into confidential negotiations with joint venture partner Petril Projects to acquire their 50% share in the Cabinda phosphate project in Angola.
This is in exchange for Petril obtaining a 50% equity stake in Minbos.
If the proposed transaction if implemented, it will result in Minbos having a 100% share in the Cabinda project.
The halt will remain in place until the opening of trade on Wednesday 1st April 2015, or earlier if an announcement is made to the market.
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