Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) has entered a trading halt ahead of finalising a new mineral project acquisition.
The halt will remain in place until Tuesday April 13 or when an announcement is made to market, whichever occurs earliest.
Sale of 6 million Major Precious Metals shares
Platina’s strategy to build its gold presence in Western Australia was boosted recently on receiving about A$2.64 million from the sale of 6 million shares in Canadian-listed Major Precious Metals Corp (CSE:SIZE) (OTCMKTS:SIZYF) (FRA:3EZ).
Major’s flagship Skaergaard Project hosts one of the world’s largest undeveloped gold deposits and one of the largest palladium resources outside South Africa and Russia.
Plana Managing Director Corey Nolan said that the company would still hold 49 million Major shares following the transaction with a value of about A$23 million.