Neometals Ltd (ASX:NMT) has been granted a trading halt by the Australian Securities Exchange (ASX).
The company requested the halt while it prepares to release further details regarding a material acquisition.
The trading halt will remain in place until the earlier of commencement of trading on Monday or details are released regarding the acquisition.
READ: Neometals continues to advance titanium-vanadium direct shipping ore project
Most recently, Neometals provided an update for its potential direct shipping ore (DSO) operation at its 100% owned Barrambie Project in Western Australia.
Barrambie is not only one of the world’s highest-grade titanium deposits, but it also has a significant endowment of high-grade vanadium.
It has a JORC resource of 47.2 million tonnes grading 22.2% titanium oxide and 0.63% vanadium pentoxide.
Earlier this year, Neometals received applicable mining regulatory approvals for the mining of a 50,000 tonne DSO sample.