Magnetite Mines (ASX:MGT) has been granted a trading halt by the ASX, with its shares placed in pre-open.
The company requested the halt pending an update in relation to the Sale and Purchasing Letter of Intent for 1 million tpy of iron ore concentrate for pelletising purposes announced by the Company on 13 March 2017 (and retracted on the same date).
The halt will remain in place until the opening of trade on Thursday 16th March 2017, or earlier if an announcement is made to the market.