Resource and Investment NL (ASX: RNI) has been granted a trading halt this morning by the ASX pending capital raising details, with its shares placed in pre-open.
The company is targeting near term production in Western Australia, with the refurbishment of the 1Mpta nameplate Grosvenor gold plant at the company’s Grosvenor gold and base metals project on schedule to produce in 2013.
The company has gold resources of 1.25 million ounces near the Grosvenor plant, plus holds an option over the neighbouring 560,000 ounce Peak Hill gold project.
Resource and Investment NL holds an extensive 2225 square kilometre tenement package in the Bryah Basin, which is highly prospective for gold and base metals.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 7th December.
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